People in part-time finance graduate jobs may not be making full use of their potential in the current economy, according to one expert.

New figures from the Chartered Institute of Personnel Development (CIPD) reveal that the number of people underemployed, referring to someone wanting to work more hours than is usual or what their contract stipulates, has risen sharply.

The number of underemployed has risen from 2.1 million during July to September 2007 to 2.8 million during the same period in 2009.

CIPD chief economic adviser John Philpott said many people, particularly the young, continue to be impacted by the current economic situation.

"There are two ways of looking at it. For some if it is the difference between a part-time job and being unemployed then in a sense that alleviates what could be the full impact of the recession, because at least people are getting [an] income," he said.

"However, clearly if they are having to stay in part-time jobs year after year, then that wouldn’t necessarily be a good thing if their living standards dropped."

According to the Bank of England, the outlook for employment in the UK continues to improve slightly with reports of increasing permanent headcounts and the hiring of temporary staff.

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