{"id":2265603,"date":"2024-06-12T02:46:02","date_gmt":"2024-06-12T06:46:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-celebrate-more-americans-working-three-or-more-jobs-to-make-ends-meet\/"},"modified":"2024-06-12T02:50:38","modified_gmt":"2024-06-12T06:50:38","slug":"democrats-celebrate-more-americans-working-three-or-more-jobs-to-make-ends-meet","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-celebrate-more-americans-working-three-or-more-jobs-to-make-ends-meet\/","title":{"rendered":"Democrats Applaud Increase in Americans Holding Multiple Jobs to Survive"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdemocrats-celebrate-more-americans-working-three-or-more-jobs-to-make-ends-meet%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2265603&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The\u2063 article\u2062 discusses criticisms \u2064of President Joe \u2064Biden&#8217;s handling of the U.S. economy, centered around\u2064 May\u2019s jobs data. \u2063Critics argue that Biden has both a substance and a messaging problem.\u200d While some \u200cmedia outlets lauded the data showing 270,000 new jobs, the deeper analysis revealed\u2064 a grim reality. The actual number of Americans employed decreased by 400,000 from April to May, suggesting many had to take on \u2064additional jobs, with\u200b some individuals taking on three or more jobs to make ends\u2062 meet. Despite the increase in job numbers, \u2064genuine\u200b employment declined, with the number of Americans with full-time jobs dropping significantly, indicating a\u2062 troubling shift towards more part-time \u200bemployment. Furthermore, the job openings decreased by 290,000, and \u2062the unemployment rate increased, worsening \u2063in tandem with a drop in the \u200d<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/why-social-security-is-the-worlds-largest-ponzi-scheme\/\" title=\"Why Social Security Is The World\u2019s Largest Ponzi Scheme\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/treasury-secretary-janet-yellen-we-have-to-consider-rising-inflation-rates-when-doing-stimulus-package\/\" title=\"Treasury Secretary Janet Yellen: \u2018We Have To Consider\u2019 Rising Inflation Rates When Doing Stimulus Package\">labor force participation<\/a> rate<\/a>. \u2063This combination signals economic distress, contradicting the celebratory tone of some reports and statements from the White House, illustrating a disconnect between the administration\u2019s portrayal of the job data \u2062and the harsh realities\u2063 faced\u200c by ordinary \u200dAmericans.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"article-content\">\n<p>On the economy, critics of President Joe Biden contend he has a substance problem. The White House and its allies claim that Biden has a messaging problem. Both are true.<\/p>\n<p>Last Friday, the government published jobs data for May. The <a href=\"https:\/\/www.msnbc.com\/rachel-maddow-show\/maddowblog\/robust-job-growth-may-exceeds-expectations-rcna156001\">left-leaning media<\/a> touted the report as good news, showing that the economy added 270,000 jobs. In fact, the data was terrible for ordinary Americans. It shows that <em>fewer<\/em> Americans were working in May than in April, and that those who were employed needed to work more jobs to make ends meet. These are substantive economic problems for Biden.<\/p>\n<div class=\"fdrlst__b89e9-paragraph-2-long d-flex justify-content-center\" style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"fdrlst__b89e9-1406804236\">\n<div id=\"div-gpt-ad-1379703300879-0\" class=\"mb-30\"><\/div>\n<\/div>\n<div class=\"fdrlst__b89e9-ba4c13c0f8143eb68cd81f10a745af42 fdrlst__b89e9-paragraph-2\" id=\"fdrlst__b89e9-ba4c13c0f8143eb68cd81f10a745af42\"><\/div>\n<p>The celebratory reaction of the <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/06\/07\/statement-from-president-joe-biden-on-the-may-jobs-report\/\">White House<\/a> and the pro-Biden media illustrates the disconnect between the pundits, bureaucrats, and academics on the one hand, and working Americans on the other. Americans don\u2019t particularly like when their leaders celebrate the economic misfortunes of Americans. That is Biden\u2019s messaging problem.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Number of Jobs vs. Number of People Working<\/strong><\/h2>\n<p>There are two different ways to view employment data. The first is to examine <em>how many jobs people are working<\/em>. The second is to look at <em>how many people have jobs<\/em>. <\/p>\n<p>Take, for example, an economy that has three people and three jobs. Such an economy could have three people each with one job and no unemployed. Alternatively, such an economy could have one person working three jobs and two people unemployed. The May jobs report shows a trend moving toward the latter scenario instead of the former. <\/p>\n<p>The government tracks and publishes both sets of job data \u2014 that\u2019s how we know the May jobs data was really bad. From the pro-Biden media, you hear only about the <a href=\"https:\/\/fred.stlouisfed.org\/series\/PAYEMS\">first set of data<\/a>, which shows the increase in \u201call employees\u201d of about 270,000 from April to May. <\/p>\n<div class=\"fdrlst__b89e9-091b5832297cccab26305700cd96bc76 fdrlst__b89e9-paragraph-6\" id=\"fdrlst__b89e9-091b5832297cccab26305700cd96bc76\"><\/div>\n<p>The problem is, that figure double-counts (or triple- or quadruple-counts) people who have to work more than one job to make ends meet. This is because a single person counts as a different \u201cemployee\u201d for each separate employer. In other words, the data set that the White House and left-leaning media point to tells us little about how many Americans are actually working.<\/p>\n<p>That information is contained in a separate report, called \u201c<a href=\"https:\/\/fred.stlouisfed.org\/series\/CE16OV\">Employment Level<\/a>,\u201d which is largely ignored by pro-Biden media. As this report <a href=\"https:\/\/fred.stlouisfed.org\/categories\/32444\">explains<\/a>, \u201c[e]ach employed person is counted only once, even if he or she holds more than one job.\u201d This data set tells us how many Americans actually have jobs at a given point in time. From April to May, this number <em>decreased<\/em> by more than 400,000 people. In other words, in May 2024, 400,000 fewer Americans had jobs than in April 2024.<\/p>\n<p>This also means that the so-called net jobs \u201cadded\u201d by Biden in May are just other Americans having to work <em>extra<\/em> jobs. The May <a href=\"https:\/\/fred.stlouisfed.org\/series\/LNS12026619\">data<\/a> thus show an increase (from April) of 15,000 people working at least two jobs. Indeed, since this time last year, 629,000 more Americans have had to take on at least a second job.<\/p>\n<p>Even these numbers don\u2019t fully add up. To completely reconcile Biden\u2019s so-called May job \u201cgains\u201d with the even larger decrease in the number of Americans actually employed during the exact same period, one must conclude that many people are taking on <em>three<\/em> <em>or more jobs<\/em> to make ends meet.<\/p>\n<div class=\"fdrlst__b89e9-9f6f45b5b9be02e2e9849767246672ca fdrlst__b89e9-paragraph-10\" id=\"fdrlst__b89e9-9f6f45b5b9be02e2e9849767246672ca\"><\/div>\n<p>The government does not report that number separately (that is, the government doesn\u2019t distinguish between \u201cmultiple job holders\u201d who work two jobs versus those who work three or more). Therefore, a person who held two jobs in April, but three jobs in May, is recorded merely as a \u201cmultiple job holder\u201d in both months.<\/p>\n<p>Nevertheless, collectively, the data suggest many people are taking on three or more jobs. There were 400,000 fewer people working in May. Yet, there were 270,000 more jobs being worked. People moving from one job to two in May based on the government numbers account for only part (about 15,000) of this difference. <\/p>\n<p>All of the government\u2019s figures are subject to sampling error, making it impossible to determine the precise number of people working more than two jobs. But the data trends nonetheless strongly suggest that a large number of Americans are being forced to work three or more jobs.<\/p>\n<p>In short, Biden and his media allies are <em>celebrating<\/em> that fewer Americans are working, and that those who are working have to work even harder. This is where the disconnect between Biden and ordinary Americans becomes apparent. Americans do not agree that fewer Americans working, and Americans having to work harder to survive, are reasons to celebrate. <\/p>\n<h2 class=\"wp-block-heading\"><strong>Other Terrible News in the May Data<\/strong>   <\/h2>\n<p>There is plenty of other bad news throughout the May employment data. While overall employment decreased by 400,000 Americans in May, full-time employment performed substantially worse. <\/p>\n<p>From April to May, the number of Americans with <a href=\"https:\/\/fred.stlouisfed.org\/series\/LNS12500000\">full-time jobs<\/a> decreased by 625,000. Over the last 11 months, the number of Americans with full-time jobs has dropped by more than 1.5 million. Effectively, the economy has been replacing full-time jobs with part-time ones. These are truly awful things for Biden and his allies to celebrate.<\/p>\n<p>Job openings in the United States <a href=\"https:\/\/fred.stlouisfed.org\/series\/JTSJOL\">dropped<\/a> by about 290,000 in the most recent monthly reporting cycle. Thus, the 270,000 jobs \u201cgained\u201d in May do not appear to be new jobs that were \u201ccreated.\u201d Rather, the May increase in payroll numbers seems to indicate that people are merely taking already-existing job postings (again, most likely as an extra job).<\/p>\n<p>The <a href=\"https:\/\/fred.stlouisfed.org\/series\/UNRATE\">unemployment rate<\/a> also ratcheted upward in May to 4.0 percent, marking an increase of .5 percent in just the last 10 months. That\u2019s a bad sign. But it\u2019s a terrible sign when you consider that the <a href=\"https:\/\/fred.stlouisfed.org\/series\/CIVPART\">labor force participation rate<\/a> dropped at the same time.<\/p>\n<p>Typically, the unemployment rate and labor force participation rate have a qualitative inverse relationship. When the labor force participation rate gets worse, the unemployment rate should tend to improve, all other things being equal. That\u2019s because it\u2019s easier for an economy to supply sufficient jobs to keep the unemployment rate low when fewer people are looking for jobs.<\/p>\n<p>May experienced the worst possible combination of these circumstances. The labor force participation rate got worse, but the unemployment rate also got worse. This combination signals recession (as does the recent <a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-05-30\/us-1q-annualized-gdp-growth-revised-down-to-1-3\">downward revision<\/a> of already low first-quarter GDP).<\/p>\n<p>Even in isolation, the May drop in labor force participation is highly alarming. Poor labor participation has been a hallmark of Bidenomics, <a href=\"https:\/\/thefederalist.com\/2024\/05\/14\/since-biden-inherited-the-trump-boom-the-whole-economys-gone-bust\/\">along with<\/a> high inflation, high interest rates, decreased real income, depleted personal saving, and increased consumer debt. Despite three-plus years of Biden\u2019s so-called \u201crecovery,\u201d the United States has not come close to returning to its pre-pandemic level of labor participation.<\/p>\n<p>Moreover, the Trump administration accomplished most of the recovery, adding 1.4 percent back to labor participation in just six months following the Covid pandemic low. Biden has added only 1.0 percent back to labor participation in 41 months. In fact, it\u2019s this <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-fed-just-predicted-a-fairly-lousy-economy-and-the-markets-noticed\/\" title=\"The Fed Just Predicted a Fairly Lousy Economy\u2014and the Markets Noticed\">low labor participation rate<\/a> throughout Biden\u2019s term that has kept the unemployment rate artificially low. <\/p>\n<p>Sustained poor labor participation is a ticking economic time bomb. Labor participation establishes the tax base from which federal and state governments secure their operating funds. Labor participation defines the base from which payroll taxes \u2014 which support the soon-to-be-insolvent Social Security and Medicare programs \u2014 are drawn. Those programs need an ever-increasing working population to survive.<\/p>\n<p>Bad economic news is bad. Celebrating bad economic news is worse. If Biden does not correct both of these problems soon \u2014 a seemingly impossible task at this point \u2014 voters in November will solve the problems for him.<\/p>\n<div class=\"fdrlst__b89e9-b3e0d55c412953b9ae4231ffc3cc90d9 fdrlst__b89e9-after-post-content\" id=\"fdrlst__b89e9-b3e0d55c412953b9ae4231ffc3cc90d9\"><\/div>\n<hr class=\"wp-block-separator\">    \t\t\t\t\t   \t\t\t\t\t\t\t\t\t<\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Critics argue President Joe Biden struggles with substantive economic issues, while his supporters blame poor messaging. Both perspectives hold some truth. Recently, the government released May&#8217;s jobs data, revealing an addition of 270,000 jobs, which was positively highlighted by left-leaning media outlets<\/p>\n","protected":false},"author":2785,"featured_media":2265604,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/thefederalist.com\/wp-content\/uploads\/2024\/06\/38591260932_17dfba3085_k-e1718111707903.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2265603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/thefederalist.com\/wp-content\/uploads\/2024\/06\/38591260932_17dfba3085_k-e1718111707903.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2265603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2785"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2265603"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2265603\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2265604"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2265603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2265603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2265603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}