> Bad term. If I get employed as a quantitative trader on Jane Street after completing a philosophy major am I underemployed because I'm not writing papers on ontology?
No, not by the common definition of underemployment. You're not over-qualified to work at Jane Street and presumably you want to work there.
But it would be worth tracking if you wanted to work in academia and ended up at Jane Street. It's about measuring labor demand vs. supply, because labor supply is difficult to measure over time (because people don't just sit forever waiting for a job in their field to open).
> Underemployment as "not working as many hours as you'd like" is the standard definition
These are related concepts and tracked for similar reasons. You're "not working as many hours as you'd like at a job you're qualified for and would like to have". The number of hours you're working at that desired job is 0, and you're replacing it with some undesired job instead.
I maintain it is patently silly to use any definition of underemployment that can expand to include a full-time quantitative trader on Jane Street, even theoretically, but I respect your commitment to the bit.
No, not by the common definition of underemployment. You're not over-qualified to work at Jane Street and presumably you want to work there.
But it would be worth tracking if you wanted to work in academia and ended up at Jane Street. It's about measuring labor demand vs. supply, because labor supply is difficult to measure over time (because people don't just sit forever waiting for a job in their field to open).
> Underemployment as "not working as many hours as you'd like" is the standard definition
These are related concepts and tracked for similar reasons. You're "not working as many hours as you'd like at a job you're qualified for and would like to have". The number of hours you're working at that desired job is 0, and you're replacing it with some undesired job instead.