One of the main puzzles associated with the Great Recession has been the muted increase in recorded unemployment in the … recession. We establish that there has been significant underemployment, which partly explains the sluggish increase in … unemployment, but also means that (i) significant numbers of workers are supplying fewer hours of work than they would like and (ii …

This paper addresses the issue of underemployment in the UK labour market – the demand for hours of work is less than … significantly during the Great Recession. In this paper, we develop a new index of underemployment which is intended to combine … increase during 2012, though unemployment was stable. The paper also investigates the microeconomic determinants of …