self-declaration Policy Analyst Steven Kopits Notes:
According to the latest BLS data, people who held more than one job accounted for 4.6% of employment in March. In December, people who held more than one job accounted for 5.1% of employment. This difference is worth an additional 684,000 multiplex workers against an increase of 916,000 employed persons. So, yes, multiple jobs are actually important in the equation.
Part-time workers are more important, with an increase of 886,000 such jobs between March and December, on top of a gain of 916,000.
I can’t copy numbers for multiple job holders. I also don’t think Mr. Kopits is making the right comparison.
First point, summing multiple workers – “full time, full time”, “full time, part time” and “part time, part time” to get the total number of multiple workers, I get 6922 thousand in December, vs. 6474 In March, the incremental change was 448 thousand (compared to the 684 thousand quoted by Mr. Kopits).
Second, remember that initially Mr. Kopits tried to explain the difference The difference between the NFP’s institutional series and the household series civilian employment because of the increase in staff (see Here’s a long post on that, using data from the November release) — so what we want to see is how to explain the change in the gap between NFP and civilian employment.this Change The shortfall is 1.917 million (rather than the change in civilian employment, which yes 916,000). To see how the increase in multiple workers compares to the change in gap (relative to 2022M3), see Figure 1 below.
figure 1: The difference in net job creation for the nonfarm wages series minus the civilian employment series since 2022M03 (dark blue), the gain in multiple jobs since 2022M03, assuming workers went from one to two jobs (green ), increasing from one to three jobs (sky blue) ), both in 000, seasonally adjusted. Multiple position holder series are BLS series LNU02026625, LNU02026631, LNU02026628. Source: BLS from FRED and authors’ calculations.
In order for multiple workers to account for the full increase in the gap, each additional multiple worker would have to take on average 4.4 additional jobs, not just one additional job.
