Record Number of Americans Taking on Second Jobs Amid High Inflation Crisis
More Americans are taking on second jobs as high inflation continues to squeeze household budgets. The number of people with multiple jobs is at its highest level since July 2019. In October, nearly 8.4 million Americans held more than one job, accounting for 5.3% of the total workforce. This is up from 4.8% just one year ago. High inflation has significantly eroded purchasing power as prices continue rising faster than wages. When accounting for inflation, the typical American worker is actually worse off financially than in January 2021 before inflation took off.
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00:00 It's Benzinga and here's what's on the block.
00:02 More Americans are taking on second jobs as high inflation continues to squeeze household
00:06 budgets.
00:07 The number of people with multiple jobs is at its highest level since July of 2019.
00:11 In October, nearly 8.4 million Americans held more than one job, accounting for 5.3% of
00:16 the total workforce.
00:17 This is up from 4.8% just one year ago.
00:20 High inflation has significantly eroded purchasing power as prices continue rising faster than
00:25 wages.
00:26 When accounting for inflation, the typical American worker is actually worse off financially
00:29 than in January of 2021 before inflation took off.
00:32 For all things money, visit Benzinga.com.
00:34 [BLANK_AUDIO]
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