The Great Recession took any number of wrecking balls to the retirement security of American workers, including wages and pension benefits, home equity and savings. But one of the less understood areas of hurt continues to this day: part-time work.
The recession pushed the U.S. part-time labor force to 20.1 percent in January 2010 from just fewer than 17 percent, and it remains high today at 18.3 percent of the workforce, according to Bureau of Labor Statistics data.
New research from the Pew Charitable Trusts shows who that trend is hurting most when it comes to saving for retirement: young people, Latinos and African-Americans.
These workers tend to be employed in "lower-hour" industries where part-time work is more prevalent, including retail trade, arts, entertainment, recreation, hospitality and food service. And they are far less likely to have a retirement plan - or other benefits, such as health insurance and paid time off.
Reuters
