What’s All This About Part-Time Jobs?

Apr 24, 2024 | Macro Insights, No Bull Economics

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Critics of the labor market like to point out that many of the recent job gains have been provided by part-time hustles. However, the percentage of employees working part-time only is at a very low level while the percentage of the U.S. workforce with multiple jobs is growing (albeit still below the level of the Great Recession) as consumers augment their pay to cover inflation. Maybe the economy’s creation of part-time jobs is the perfect thing for the times…  

Comments

  • Dollar General recently reported that consumers are finally figuring out their expenses in light of the post-covid inflationary shock & are starting to purchase more discretionary items.
  • As part of this calculus, it seems that lower-income consumers are adjusting to macro pressures by adding a second part-time job to help make ends meet.
  • Further, those Americans who were previously able to make do with only a part-time job (including seniors & students) appear to be working full-time for the time being.
  • This speaks well to the resiliency of American consumers who are demonstrating their ability to work harder during a difficult economic environment when they could be tempted to stay home & complain!

Multiple Jobholders & Part-Time Employment Level Graph

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