Why do Americans work 2 jobs
The US job market : Lots of jobs, little money
The German economy describes the US labor market as "still dynamic". Employment increases by an average of 178,000 people every month. The unemployment rate was five percent in September - a figure that many countries in Europe can only dream of. Some economists even speak of full employment. Unlike the Europeans, the Americans have succeeded in getting many people back into work since the crisis. Because while the Americans were able to push the unemployment rate down significantly, it is still just under nine percent in Europe.
Many Americans drop out of the statistics
But as great as the news of the recovery in the American labor market may sound, the US figures must be viewed with caution. For one thing, many Americans only find poorly paying jobs. Most of the new jobs are created in the low-wage sector. Many are only offered a part-time position or are permanent interns. A total of a third of workers in the United States are only in precarious employment.
On the other hand, many Americans have since given up on finding a job at all - with the result that they simply drop out of the statistics. This is because only people who are looking for work are recorded in the US unemployment figures. In the meantime, over 94 million Americans are unemployed and do not even strive for any more. If these distortions are taken into account, unemployment in the USA would actually be more than 20 percent, calculates the economist John Williams on his blog "Shadow Government Statistics".
In addition, the labor market in the USA is also changing dramatically. This is by no means creating jobs in all sectors. In manufacturing, jobs are being lost en masse: in September alone, 13,000 jobs were lost in industry. A number that Trump feels confirmed. After all, he vehemently railed against the corporations that had their products manufactured abroad.
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