Global Journal of Human Social Science, E: Economics, Volume 21 Issue 4

are doing sustainable work or occasional part-time jobs in substitution of actual wage employment. The global average of full-time adult workers per population is only 26%, as against the 30–52% found in developed countries and 5–20% in most of Africa, according to Gallup, Inc. in 2014. c) Underutilisation of skills In one usage, Underemployment describes workers having high skill and post-secondary or tertiary education in relatively low-skilled and low-wage jobs. For example, someone with a university degree may be working as a bar attendant or working as a factory assembly line worker because of unemployment. Unemployment has made workers who have bills to pay and responsibilities to take care are vulnerable to take up any job available, even if they do not use their full talents and skills. Unemployment can also occur with individuals who are discriminated against, who may also not have a relevant trade certificate or academic degrees (such as a high school or college diploma) but have the requisite skills and experience, people having disabilities or mental illnesses, or have served time in prison and could not fit into societal jobs are subjected to take up menial jobs that ordinarily they will not accept to work due to their qualifications and skills. Underemployment is an "involuntary part-time" job, where workers who could (and would like to) be working for the standard work week (typically full-time employment of 40 hours per week) could find a part- time job only. We find Underemployment more at times of economic stagnation (i.e., time of recession). During the Great Depression (the 1930s), many workers were counted as underemployed. These kinds of Underemployment arise because labour markets typically do not "clear" using wage adjustment. Instead, there is non-wage rationing of jobs. There exist two everyday situations that can easily lead to Underemployment, such as immigrants and new graduates. When highly trained immigrants arrive in a foreign country, their foreign credentials may not be recognised or accepted in their new country, requiring them to do a lengthy or costly re-credentialing process. For example, when doctors or engineers arrive other countries as immigrants, they may be unable to work in their profession in the new location. As such, they may have to seek menial work to sustain them in the interim until they commensurate job that matches their qualification(s). New graduates may also face similar Underemployment because they have completed the technical training for a given field with a good job market, yet they lacked experience. A graduate with a master's degree in Economics or accounting works as a barista or store clerk with low-pay, jobs that do not require a university degree until they can find work in their chosen professional field. Another example of Underemployment is someone having high skills. Still there is low marketplace demand for this skill at that very moment, and if he chooses to do menial work, it means that he has chosen to be underemployed. Acquiring a University degree is costly in terms of money and time, but those in the liberal arts produce significantly more graduates than properly employed, as Vedder; Denhart; & Robe (2013) asserted. According to Pappano (2011), employers have responded to graduates' oversupply by raising the academic requirements of many occupations higher than is necessary to perform the work. Several surveys showed that skill-based Underemployment in North America, Europe, and Africa could be a long-lasting phenomenon. If university graduates spend a long time in underemployment situations, the skills they gained from their degrees are unnecessary. For instance, a person who graduated with a Ph.D. in English literature has advanced research and writing skills when they graduated, still if they work as a store clerk for several years, these researches and writing skills will shrink due to disuse. Similarly, technically specialised workers may find themselves unable to acquire positions commensurate with their services for extended lengths of time following lay-offs; and a skilled machinist laid off may find that he or she cannot find another machinist job, and as a result, he/she may opt to work at s a server in a restaurant, a position which does not use her professional skills as observed by Lederman, (2018). Underemployment is also defined as the ineffective use of public resources. This statement is true with most university studies in the Western countries that subsidised tuition for its citizenry in a State or public University, or the students receive government loans or grants for their educational expenses. In such a situation, the Underemployment of such students who have left school and are in their employment leads to ineffective use of public resources spent on them. Some solutions were proffered to reduce skill-based Underemployment: (a) government-imposed restrictions on enrolment in public universities in fields with a low labour market demand (e.g., fine arts) changes into degrees that reflect potential labour market demand be encouraged. d) Economic Capacity Underusage Economic capacity under usage occurs when Underemployment occurs in regional planning to describe localities where economic activity rates are meagre and induced by a lack of job opportunities, training opportunities, or childcare and public transportation services. Hence, residents of that locality accept economic inactivity rather than register as unemployed or actively seek jobs because their prospects for regular employment appeared dreary. Volume XXI Issue IV Version I 55 ( E ) Global Journal of Human Social Science - Year 2021 © 2021 Global Journals Which of these Economics Jargons - Underemployment, Overemployment, Unemployment, Rightemployment, Overqualification and Overeducation is Appropriate for an Economy?