Your Money Jax: October Jobs Report shows that more Americans are working multiple jobs

JACKSONVILLE, Fla. — Experts explain why there was an uptick in Americans working multiple jobs.

>>> STREAM ACTION NEWS JAX LIVE <<<

The number of Americans working multiple jobs is growing, according to the October Jobs Report from the Labor Department. Nearly 8.4 million people had multiple jobs in October, which is the highest number since the start of the pandemic.

Women appear to be leading the trend. Federal data shows nearly 6% of women worked multiple jobs in October compared to 4.7% of men.

[DOWNLOAD: Free Action News Jax app for alerts as news breaks]

Experts say people may be taking additional jobs to offset high inflation, which has been easing but is still painfully high for households.

Non-profits like the United Way say inflation is outpacing wage growth, and that’s making it harder for them to help families.

“Wages do not reflect how important they are in everyday living,” said Angela Mangapane, community resource coordinator for United Way Horry County.

Read: Your Money Jax: How to better save and protect yourself on Black Friday

Remote work is also offering more flexibility and opportunities for workers to manage several jobs from home.

There’s also a fear that layoffs could have people looking for supplemental jobs, but one economist says layoffs are historically low right now.

“Companies are reluctant to lose their workers, and they’re willing to negotiate even higher salaries to keep them,” said Nela Richardson, ADP chief economist.

Read: Your Money Jax: How you can utilize special discounts this holiday season

U.S. employers added only 150,000 jobs last month. That’s the smallest gain since June, signaling the economy is slowing.

It’s also signaling that the Federal Reserve’s actions to tame inflation may be working.

Read: Your Money Jax: How you can save money on Thanksgiving dinner

[SIGN UP: Action News Jax Daily Headlines Newsletter]

Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.