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re: Peter Schiff warns US job numbers up only because Americans ‘forced to take 2 or 3 jobs'
Posted on 2/26/24 at 9:37 am to Street Hawk
Posted on 2/26/24 at 9:37 am to Street Hawk
The numbers don't back him up. Multiple job holders, as a percentage of those employed, is actually LOWER than it was in January of 2020.
This post was edited on 2/26/24 at 9:39 am
3
Posted on 2/26/24 at 11:36 am to JohnnyKilroy
quote:Don't they?
The numbers don't back him up.
Over Biden's tenure, multiple job holders are up ~25%. That is the sole point of reference.
Posted on 2/26/24 at 1:52 pm to JohnnyKilroy
quote:
The numbers don't back him up. Multiple job holders, as a percentage of those employed, is actually LOWER than it was in January of 2020.
If these numbers include people who DoorDash or Uber occasionally for extra cash as "having two jobs" that would be shocking. If not, then its a false indicator.
Posted on 2/26/24 at 2:13 pm to JohnnyKilroy
quote:
The numbers don't back him up. Multiple job holders, as a percentage of those employed, is actually LOWER than it was in January of 2020.
The whole jobs thing is interesting to me. We have (reportedly) ongoing massive job creation going on yet Unemployment has been slowly ticking upward, the LFPR has yet to recover to pre-COVID levels and new jobless claims are remaining low while continued claims are slowly ticking upward (which I am taking to mean that more and more people filing new claims are stay jobless longer). The Boomer generation (slowly) bowing out of the labor pool makes things chaotic, but that can't account for everything.
Taking it all in together it may be that what we're seeing is more reflective of the people who are staying in the job market more and more being the ones who have already been working multiple jobs (as opposed to a glut of people moving into holding multiple jobs).
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