In economics, the term underemployment has at least three different distinct meanings and applications. All three of them involve underutilization of labor that critics say is missed by most official (governmental agency) definitions and measurements of "unemployment." Underemployment defined as underutilization of skills In one usage, underemployment describes the employment of workers with high skill levels in low-wage jobs that don't require such abilities. For example, someone with a college… (More on Underemployment)