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Subject: "Agent economy" of part-timers Date: 10/5/2012 12:05 PM
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http://www.nytimes.com/2012/10/05/business/entrepreneurs-sta...


When Job-Creation Engines Stop at Just One

By CATHERINE RAMPELL
New York Times, October 4, 2012

...

“I think we’re all headed toward an agent economy, where everyone becomes an agent or a service provider instead of an employee at some big corporation...”

But the implications for the American work force are worrisome, and may help explain why economic output is growing much faster than employers are adding jobs....

For decades, new companies have produced most of the country’s job growth. Without start-ups, the country would have had a net increase in jobs in only seven years since 1977. The number of people employed by new businesses peaked in 1999, the height of the tech bubble, and has fallen by 46 percent since then, to 2.5 million in 2011, creating a slow leak in job creation that has proved difficult to plug. ...

The decrease in start-up size is probably driven by some combination of technology, changes in management philosophy and tighter financing. ...
[end quote]

Employment Level - Part-Time for Economic Reasons, All Industries usually peaks during recessions and falls rapidly during recoveries. This includes slack work (reduced hours) and people who wanted a full-time job but could only find a part-time job.
http://research.stlouisfed.org/fred2/series/LNS12032194
http://research.stlouisfed.org/fred2/series/LNS14200000

Unemployment Level - Looking For Part-Time Work remains high.
http://research.stlouisfed.org/fred2/series/LNS13200000

Unemployment Rate - Full-Time Workers shows a decline in unemployment.
http://research.stlouisfed.org/fred2/series/LNS14100000

The trend of business startups using part-time workers (agents and contractors) instead of hiring full-time employees joins the trend of increased automation in decreasing employment.

Wendy
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