JACKSONVILLE, Fla. — Experts explain why there was an uptick in Americans working multiple jobs.
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The number of Americans working multiple jobs is growing, according to the October Jobs Report from the Labor Department. Nearly 8.4 million people had multiple jobs in October, which is the highest number since the start of the pandemic.
Women appear to be leading the trend. Federal data shows nearly 6% of women worked multiple jobs in October compared to 4.7% of men.
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Experts say people may be taking additional jobs to offset high inflation, which has been easing but is still painfully high for households.
Non-profits like the United Way say inflation is outpacing wage growth, and that’s making it harder for them to help families.
“Wages do not reflect how important they are in everyday living,” said Angela Mangapane, community resource coordinator for United Way Horry County.
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Remote work is also offering more flexibility and opportunities for workers to manage several jobs from home.
There’s also a fear that layoffs could have people looking for supplemental jobs, but one economist says layoffs are historically low right now.
“Companies are reluctant to lose their workers, and they’re willing to negotiate even higher salaries to keep them,” said Nela Richardson, ADP chief economist.
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U.S. employers added only 150,000 jobs last month. That’s the smallest gain since June, signaling the economy is slowing.
It’s also signaling that the Federal Reserve’s actions to tame inflation may be working.
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