Underemployment became the buzzword last week when the Labor Department reported, that eight million Americans, who would like to be working full time, are working part-time. This means that the real unemployment rate, according to the NY Times, is 13.5%. It's another sad statistic.
But what that statistic fails to include, is the number of individuals who have been forced to accept pay cuts or who are working at jobs, either outside of their professions, or for which they are over-qualified.
Is underemployment, in this regard, a wise choice for the individual?
In a different economy when the next appropriate opportunity might be only a few days/weeks away, I'd say no because it could take years to get your salary back up to an appropriate level.
Case and point: Some technology workers who were laid-off in 2001, and are working now, still aren't back to their pre-NASDAQ crash level pay, even if they've since changed jobs. Why? Because around 2005 companies began making job offers based on the previous year's earnings (and IRS-level proof is required.) Hopefully employers will amend their procedures when they begin to hire again.
All that being said, if you have an opportunity to change your status from unemployed, to under-employed (especially if it allows you to remain in your profession), do it; you will not only have an easier time paying your bills, but you'll be more attractive to your next employer.
If you have to take a job outside of your profession, say as a bartender or drug counselor, or in the state unemployment office (they ought to be hiring), seriously consider doing that. Why? Because unemployment can lead to drug and alcohol over-use and/or situational depression, and it's best not to go there.
How will you handle underemployment on your resume? Carefully.
If you have the good fortune of working with a headhunter, he/she can advise you on a case to case basis; they're in a position to predict how their client firm will react. If you're submitting to job boards, and the position in which you're underemployed doesn't enhance your qualifications for the job that you seek, leave it off. If the information becomes necessary, you'll be better-off discussing the matter in person.
One another note; if you're lucky enough to be underemployed in your profession, volunteer to do some pro bono work at your level. Doing that will make you more valuable to your employer and provide you with the means to keep your qualifications current.
