Hidden reality of new jobs report: Americans taking side gigs to make ends meet amid soaring co...

Hidden reality of new jobs report: Americans taking side gigs to make ends meet amid soaring costs

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The Labor Department's newly released jobs report for July appeared to be good news for the economy — at first glance.
A dig below the surface, however, reveals a different picture: Americans, strapped for cash by inflation, taking on second jobs as families have less money to spend.
The economy added an unexpectedly high 528,000 jobs in July while the unemployment rate fell slightly to 3.5%, according to figures released by the Bureau of Labor Statistics on Friday.
As a result, total nonfarm employment and the unemployment rate both returned to their February 2020 levels under then-President Trump before the...
Source: https://justthenews.com/nation/economy/why-july-jobs-report-isnt-what-it-seems?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators