For me the multijob numbers are always scary. I think about all the issues that come from this. I think about the kids sitting at home with no parent present because they are working multiple jobs and the impact that has on their education. I think about all the mental health issues and general lack of free-time and how that hurts society as a whole. Employment numbers can be such a cold number because first off, unemployment is not a number it is human beings, and also employment numbers can look great until you realize the multiple jobs aspect and the fact that for some people it takes more than one job to exist.
This is amazing. Having both the writing and your voice is making it extra interesting and understanding. I hope you continue having both. Your points of view come across clearly with warmth and with emphasis of certain messages you want us to get. I would love to know the reason/ reasons for why people are doing more than one job as well as age groups, kinds of jobs and which gender. Many thanks for today’s work. All the best
Without a Household Survey of any quality, the initial unemployment numbers still reflect areas where immigration affects outcomes. Construction and Healthcare being the two largest components that continue to outpace, not only for an aging population requiring more assistance, but employment situations affected by Federal policy. (Construction relative to data centers and power production still aren't clear.)
The U6 category is the only one I truly follow and without better data I'm of the belief 8.7% Unemployment is higher (even though this time of year is highly seasonal with workforce entering and leaving retail or warehousing.)
With Biden era Pandemic relief programs having their funds expended without Trump era constinuation? I would expect we start seeing firing/layoffs in State/Local in 2026 increase since the only sustainable path for some are raising taxes (not in an Election year.)
*With Trump pushing for a 1% COLA for Federal Employees, wage growth pegged to inflation is a concern. Congress may have the final decision, but they walk a tight rope Truth Social insults or staff being told their wages don't equal basic inflationary rates. Plenty of businesses hide behind Federal policy as a guiding path towards wages.
Multiple job holding tends to be pro-cyclical, rising when the economy is strong and more opportunities are available (like it did 2014-2020 and again post-pandemic). If the economy is weak and one job is hard to find, surely two jobs is harder to find.
Another metric to watch is the long term unemployed over 27 weeks - we’re at the highest level in 9 years.
Cooling wage growth is something I hadn’t noticed in the numbers. That’s concerning given that inflation has been ticking closer and closer to 3% since April, even if it seems like it might have leveled off.
For me the multijob numbers are always scary. I think about all the issues that come from this. I think about the kids sitting at home with no parent present because they are working multiple jobs and the impact that has on their education. I think about all the mental health issues and general lack of free-time and how that hurts society as a whole. Employment numbers can be such a cold number because first off, unemployment is not a number it is human beings, and also employment numbers can look great until you realize the multiple jobs aspect and the fact that for some people it takes more than one job to exist.
This is amazing. Having both the writing and your voice is making it extra interesting and understanding. I hope you continue having both. Your points of view come across clearly with warmth and with emphasis of certain messages you want us to get. I would love to know the reason/ reasons for why people are doing more than one job as well as age groups, kinds of jobs and which gender. Many thanks for today’s work. All the best
Without a Household Survey of any quality, the initial unemployment numbers still reflect areas where immigration affects outcomes. Construction and Healthcare being the two largest components that continue to outpace, not only for an aging population requiring more assistance, but employment situations affected by Federal policy. (Construction relative to data centers and power production still aren't clear.)
The U6 category is the only one I truly follow and without better data I'm of the belief 8.7% Unemployment is higher (even though this time of year is highly seasonal with workforce entering and leaving retail or warehousing.)
With Biden era Pandemic relief programs having their funds expended without Trump era constinuation? I would expect we start seeing firing/layoffs in State/Local in 2026 increase since the only sustainable path for some are raising taxes (not in an Election year.)
*With Trump pushing for a 1% COLA for Federal Employees, wage growth pegged to inflation is a concern. Congress may have the final decision, but they walk a tight rope Truth Social insults or staff being told their wages don't equal basic inflationary rates. Plenty of businesses hide behind Federal policy as a guiding path towards wages.
Multiple job holding tends to be pro-cyclical, rising when the economy is strong and more opportunities are available (like it did 2014-2020 and again post-pandemic). If the economy is weak and one job is hard to find, surely two jobs is harder to find.
Another metric to watch is the long term unemployed over 27 weeks - we’re at the highest level in 9 years.
Cooling wage growth is something I hadn’t noticed in the numbers. That’s concerning given that inflation has been ticking closer and closer to 3% since April, even if it seems like it might have leveled off.