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IPFS News Link • Employment & Jobs

Multiple Jobholders Soar To Record High As Old Americans Can't Afford To Retire

• by Tyler Durden

One aspect of today's jobs report that will likely become a major talking point for Democrats and other critics of the Trump economy, is that the number of multiple-jobholders soared from 7.855 million in May, to 8.156 million in June, to a new all time of 8,389 million in July, a monthly increase of 233K and 591,000 higher in the past three months, which was a clear indication that the jobs number was far weaker than the headline represents if one excludes all those workers who represented two jobs to the BLS' various surveys.

Yet even this number had its silver lining, because while the Establishment Survey's 164K increase was impressive, at the same time the BLS reported that the number of Full-Time workers soared by 291K, which together with June's 453K increase was a dramatic reversal to the trend so far in 2019, where 218K full time jobs had been lost in the January - May period