According to Peter Schiff, CEO and chief global strategist at Euro Pacific Capital, the situation might not be as positive as the headline figures suggest.
“The only reason that jobs are going up is because people are forced to take two or three jobs, because prices keep going up, and their paychecks are not,” said the economist and financial commentator during a recent appearance on OAN Network’s “Real America.”
According to the Labor Department’s latest jobs report, 8.1 million people held multiple jobs in January 2024, up from 7.8 million a year ago. Notably, 416,000 people were working two full-time jobs simultaneously, an increase from 343,000 in January 2023.
Schiff added, “We’ve been replacing full-time jobs with part-time jobs. So the numbers would favor extra jobs.”
@QuailPeteSocialist2mos2MO
People are struggling to buy groceries
@UnhappyMandateGreen2mos2MO
Inflation is the lowest it has been in nearly three years.
And wages, wealth, and jobs are higher than they were before the pandemic.
@ElectionPepperDemocrat2mos2MO
That’s because the adults are in charge, not some idiot orange, performative diaper-loaded rodeo-clown who can *barely* string a coherent sentence together at his hate rallies. lol
DESTROY him at the polls once again, Joe. He doesn’t pull the same crowds, and certainly *doesn’t* pull the same support across the whole Republican party. He’s weaker.
@ISIDEWITH2mos2MO
@ISIDEWITH2mos2MO
@Patriot-#1776Constitution2mos2MO
End the Fed, and solve this problem!
1. Prices have never been higher and are starting to accelerate to the upside again
2. All the jobs created in the past year have been part time.
3. There has been zero job growth for native-born Americans since 2018; all jobs have gone to immigrants (mostly illegal immigrants)
4. Real wages have not only been negative for most of the Biden presidency, they just turned negative again.
@SwingStateSamLibertarian2mos2MO
Wages are "rising" because states are increasing their minimum wage to compensate for the inflation. Which is rising because there are now too many jobs and not enough people which causes an employee retainment war between the more well-paying occupations.
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