Could this be why BLS jobs numbers are up? Half of employers say more than 1 in 4 employees also hold a second job outside their workplace.
More employees are now holding multiple jobs across different companies, according to recent data from the Freedom Economy Index, a survey of over 80,000 US small businesses conducted jointly by PublicSquare and RedBalloon.
4 in 10 employers reported that "30% or more" of their employees are juggling a second or even third job. And 40% of employers also said they were still enduring high employee turnover, also known as “The Great Resignation.”
“A lot of analysts are scratching their heads when the bureau of labor statistics comes out with these unexplainable elevated jobs numbers every month, and perhaps this gives us a good clue as to what’s really happening,” said RedBalloon CEO Andrew Crapuchettes.
"Inflation’s impact is still being felt everywhere, particularly in housing,” continued Crapuchettes. “So many of these employees have no choice but to secure a second or even third job to afford to live.”
“This trend is likely contributing to exhaustion, burnout, and increase in employee mental health stresses, particularly among those companies with poor workplace culture,” concluded Crapuchettes.