7.8 Million Americans Have More Than One Job To Get By
How many jobs are you juggling? Looking back, I have always had at least two jobs at once. And it seems most Americans are on the same track.
“The ranks of multiple jobholders jumped by 300,000 last month to 7.8 million, according to the Bureau of Labor Statistics. The moonlighters represent 5.2 percent of all those employed, up from 4.9 percent in September 2015,” reported USA Today. This marks an eight-year high for multiple job holders. And so far for 2016, the average is 7.5 million multiple job holders, nearly 300,000 higher than last year.
The reasons? They include the fact that there are more jobs available and people need more money in their pockets to cover cost of living. “It’s symptomatic of a tight labor market and the fact that you have so many job openings,” says Mark Zandi, chief economist at Moody’s Analytics. “It means people who want to work are able to find jobs.”
Many people tag on an extra job especially during the holiday season. Also, as the workplace changes, so do the positions. “That trend is largely a product of the ‘gig economy,’ in which more workers are freelancing and doing contract work, often cobbling together part-time jobs. A report released last week by McKinsey Global Institute estimates these independent workers make up 20 percent to 30 percent of the working age population,” reported USA Today.
And some people just need extra money to get by. There are nearly 6 million workers in that predicament. Many of these workers have seen their full-time positions cut back to part time so they take on multiple jobs since they can’t find a full-time slot. “In recent years, many employers have been bringing on workers or contractors for part-time or temporary projects to cut costs,” USA Today stated. “Others have shied away from hiring full-time workers to sidestep requirements to provide health care coverage under the Affordable Care Act.”