The latest employment report from the US Bureau of Labor Statistics (BLS) found that the number of multiple workers increased to eight million last monthcompared to 7.5 million in February 2022.
According to experts, these figures indicate that Americans they could be duplicating their jobs to obtain an income that allows them to reach the end of the month.
Evan Sohn, CEO of Recruiter.com, told yahoo finance that what is believed is that the country is returning to a time in which it is usual for people to have two jobs.
“You have inflation going up, you have higher costs of everything, and that would create two jobs,” he said. “That could be what is happening now: people working two jobs again. That would make sense if you’re looking at a flat labor share, an increase in unemployment and yet jobs are being created.”
Last February, the US labor market added 311,000 jobs, while unemployment rose to 3.6%.
Participation, which measures the number of people active in the labor force as a percentage of the total population of working age, increased very slightly to 62.5%.
The total number of people who work part-time on a voluntary basis was almost 22 million in February.
that figure is more than five times the 4.1 million people who work part-time, but would prefer full-time hours.
Federal Reserve Chairman Jerome Powell has indicated that the job vacancy rate remains historically high in 1.9 jobs for each person looking for work.
However, the type of work available suggests that many of these positions are in segments with lower wages.
The largest industries in the 10.8 million job openings tracked by the Bureau of Labor Statistics are in the areas of commerce, transport and public servicesas well as education and health, leisure and hospitality services.
Recruiter.com, which has been tracking layoffs and new job changes over a 12-month period, notes that vacancies have decreased by 5.7% compared to the previous year. In the areas of transportation and storage, vacancies decreased by 2%.
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Source: La Opinion
