Part-time job in the context of "Full employment"

⭐ In the context of full employment, what type of unemployment can still persist, characterized by individuals working part-time jobs despite possessing skills suitable for more demanding roles?




⭐ Core Definition: Part-time job

A part-time job is a form of employment that carries fewer hours per week than a full-time job. Workers are commonly considered to be part-time if they work fewer than 30 hours per week. Their hours of work may be organised in shifts. The shifts are often rotational.

According to the International Labour Organization, the number of part-time workers has increased from one-quarter to a half in the past 20 years in most developed countries, excluding the United States. There are many reasons for working part-time, including the desire for a less stressful schedule, having one's hours cut back by an employer and being unable to find a full-time job. The International Labour Organisation Convention 175 requires that part-time workers be treated no less favourably than full-time workers.

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👉 Part-time job in the context of Full employment

Full employment is an economic situation in which there is no cyclical or deficient-demand unemployment. Full employment does not entail the disappearance of all unemployment, as other kinds of unemployment, namely structural and frictional, may remain. Full employment does not entail 100% employment-to-population ratio. For instance, workers who are "between jobs" for short periods of time as they search for better employment are not counted against full employment, as such unemployment is frictional rather than cyclical. An economy with full employment might also have unemployment or underemployment where part-time workers cannot find jobs appropriate to their skill level, as such unemployment is considered structural rather than cyclical. Full employment marks the point past which expansionary fiscal and/or monetary policy cannot reduce unemployment any further without causing inflation.

Some economists define full employment somewhat differently, as the unemployment rate at which inflation does not continuously increase. Advocacy of avoiding accelerating inflation is based on a theory centered on the concept of the Non-Accelerating Inflation Rate of Unemployment (NAIRU) and those who hold it usually mean NAIRU when speaking of full employment. The NAIRU has also been described by Milton Friedman, among others, as the "natural" rate of unemployment. Such views tend to emphasize sustainability, noting that a government cannot sustain unemployment rates below the NAIRU forever: inflation will continue to grow so long as unemployment lies below the NAIRU.

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Part-time job in the context of International Labour Organisation Convention 175

Part-Time Work Convention, 1994 is an International Labour Organization Convention for protection of part-time workers including the rights to equal pay for equal work.

It was established in 1994, with the preamble stating:

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Part-time job in the context of Retainer agreement

A retainer agreement is a work-for-hire contract. It falls between a one-off contract and permanent employment, which may be full-time or part-time. Its distinguishing feature is that the client or customer pays in advance for professional work to be specified later. The purpose of a retainer fee is to ensure that the employed reserves time for the client in the future when their services are needed.

A retainer agreement may incorporate other contractual provisions regarding the performance of services, or the parties may potentially enter into additional contracts that define the other terms of their working relationship. A retainer fee may be paid on a fixed, pre-negotiated rate or on a variable hourly rate depending on the nature of retainer and also, the practice of the professional being retained.

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Part-time job in the context of Contingent work

Contingent work, casual work, gig work or contract work, is an employment relationship with limited job security, payment on a piece work basis, typically part-time (typically with variable hours) that is considered non-permanent.

According to the US Bureau of Labor Statistics (BLS), the nontraditional workforce includes "multiple job holders, contingent and part-time workers, and people in alternative work arrangements". These workers currently represent a substantial portion of the US workforce, and "nearly four out of five employers, in establishments of all sizes and industries, use some form of nontraditional staffing". "People in alternative work arrangements" includes independent contractors, employees of contract companies, workers who are on call, and temporary workers.

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Part-time job in the context of Economy of the Netherlands

The Netherlands has a highly developed market economy focused on trade and logistics, manufacturing, services, innovation and technology and sustainable and renewable energy. It is the world's 18th largest economy by nominal GDP and the 28th largest by purchasing power parity (PPP) and is the fifth largest economy in European Union by nominal GDP. It has the world's 11th highest nominal per capita GDP and the 13th highest PPP-adjusted per capita GDP as of 2023, making it one of the highest earning nations in the world. Many of the world's largest tech companies are based in its capital Amsterdam or have established their European headquarters in the city, such as IBM, Microsoft, Google, Oracle, Cisco, Uber and Netflix. Its second largest city Rotterdam is a major trade, logistics and economic center of the world and is Europe's largest seaport. Netherlands is ranked fifth on the Global Innovation Index and fourth on the WEF Global Competitiveness Report. Among OECD nations, Netherlands has a highly efficient and strong social security system; social expenditure stood at roughly 25.3% of GDP.

The Netherlands has a prosperous and open economy, which depends heavily on foreign trade. The economy is noted for stable industrial relations, fairly low unemployment and inflation, a sizable current account surplus (which, compared to the size of the country, is even more than Germany) and an important role as a European transportation hub; Rotterdam is the biggest port in Europe; and Amsterdam has one of the biggest airports in the world. Industrial activity is predominantly in food processing, chemicals, petroleum refining, high-tech, financial services, the creative sector and electrical machinery. Its highly mechanized agricultural sector employs no more than 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002.

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Part-time job in the context of UK labour law

United Kingdom labour law regulates the relations between workers, employers and trade unions. People at work in the UK have a minimum set of employment rights, from Acts of Parliament, Regulations, common law and equity. This includes the right to a minimum wage of £12.21 for over-21-year-olds from April 2025 under the National Minimum Wage Act 1998. The Working Time Regulations 1998 give the right to 28 days paid holidays, breaks from work, and attempt to limit long working hours. The Employment Rights Act 1996 gives the right to leave for child care, and the right to request flexible working patterns. The Pensions Act 2008 gives the right to be automatically enrolled in a basic occupational pension, whose funds must be protected according to the Pensions Act 1995. Workers must be able to vote for trustees of their occupational pensions under the Pensions Act 2004. In some enterprises, such as universities or NHS foundation trusts, staff can vote for the directors of the organisation. In enterprises with over 50 staff, workers must be negotiated with, with a view to agreement on any contract or workplace organisation changes, major economic developments or difficulties. The UK Corporate Governance Code recommends worker involvement in voting for a listed company's board of directors but does not yet follow international standards in protecting the right to vote in law. Collective bargaining, between democratically organised trade unions and the enterprise's management, has been seen as a "single channel" for individual workers to counteract the employer's abuse of power when it dismisses staff or fix the terms of work. Collective agreements are ultimately backed up by a trade union's right to strike: a fundamental requirement of democratic society in international law. Under the Trade Union and Labour Relations (Consolidation) Act 1992 strike action is protected when it is "in contemplation or furtherance of a trade dispute".

As well as the law's aim for fair treatment, the Equality Act 2010 requires that people are treated equally, unless there is a good justification, based on their sex, race, sexual orientation, religion or belief and age. To combat social exclusion, employers must positively accommodate the needs of disabled people. Part-time staff, agency workers, and people on fixed-term contracts must be treated equally compared to full-time, direct and permanent staff. To tackle unemployment, all employees are entitled to reasonable notice before dismissal after a qualifying period of a month, and in principle can only be dismissed for a fair reason. Employees are also entitled to a redundancy payment if their job was no longer economically necessary. If an enterprise is bought or outsourced, the Transfer of Undertakings (Protection of Employment) Regulations 2006 require that employees' terms cannot be worsened without a good economic, technical or organisational reason. The purpose of these rights is to ensure people have dignified living standards, whether or not they have the relative bargaining power to get good terms and conditions in their contract. Regulations relating to external shift hours communication with employees will be introduced by the government, with official sources stating that it should boost production at large.

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