Federal Reserve Economic Data

The FRED® Blog

Stories about the labor market

Who is employed, who is unemployed, and who’s not in the labor force? Data that answer these questions are reported by the US Bureau of Labor Statistics (BLS) using the Current Population Survey (CPS) conducted by the US Census. FRED has monthly data on the CPS starting on January 1, 1948, which translates into 906 data points between that date and July 1, 2023. Today, we use that happenstance to celebrate this, our 906th FRED Blog post. Yes, we are that data-nerdy.

Take a look back and you’ll see that the FRED Blog has tapped into many of the 8,449 data series from the Household Survey of the CPS to tell the stories behind those numbers. Here’s a sample, including the FRED graph above for the unemployment rate, the most popular series among them on FRED:

Stay tuned to the FRED Blog as we continue to tap into the CPS to tell interesting stories about the labor market.

How this graph was created: On the FRED homepage, look for the most popular series and click on the unemployment rate. Click on the first choice.

Suggested by Diego Mendez-Carbajo.

Moonlighting in the spotlight

Trends for multiple jobholders

Today we’ll try to better understand moonlighting—that is, holding multiple jobs. The Bureau of Labor Statistics records the number of multiple jobholders, and FRED has the data all the way back to 1994. What can we learn from the graph?

Most multiple jobholders hold a full-time plus a part-time job (blue line in the graph), and this group now makes up about 3% of the working population in the U.S. The percentage of workers with this particular work arrangement has declined since at least 1994, when it was over 3.5%.

Those in the next-largest group hold two part-time jobs (red line). The percentage of workers with this arrangement is significantly lower than the first group—a little less than 1.5% of all employees—and has been quite stable over time.

Finally there’s a small group of workers with two full-time jobs (green line), which accounts for about 0.25% of workers. The percentage for this group has also been quite stable since 1994.

We can also see that recessions don’t seem to have a significant impact on these groups of workers with multiple jobs.

How this graph was created: Search for and select the monthly series “Multiple Jobholders, Primary Job Full Time, Secondary Job Part Time.” From the “Edit Graph” panel, use the “Edit Line 1” tab’s “Customize data” section to search for and add an additional series: “All Employees: Total Nonfarm Payrolls” (not seasonally adjusted option). Then type “a/b*100” into the formula box and click “Apply.” Repeat this process for lines two and three, with “Multiple Jobholders, Primary and Secondary Jobs Both Part Time” for line two and “Multiple Jobholders, Primary and Secondary Jobs Both Full time” for line three. All series should be not seasonally adjusted. Use the “Format” tab to select alternative colors for the lines.

Suggested by Makenzie Peake and Guillaume Vandenbroucke.

View on FRED, series used in this post: LNU02026625, LNU02026628, LNU02026631, PAYNSA

Juggling jobs

Some jobs pay less because they’re part-time. Some jobs just pay less. And these jobs may not provide enough income for workers to make ends meet, bring down debt, or pay for family health expenses. Whatever the reason, some workers have multiple jobs. Let’s consult FRED to see how common this is.

The Current Population Survey from the Bureau of Labor Statistics offers data on the fraction of workers (among all workers) who hold multiple jobs. It’s not a large number, but it’s not negligible either: Today, it’s about 5%. Its slow decline over time suggests that the need for multiple jobs, often some sort of financial distress, is becoming less frequent. By looking at the graph, we see that recessions (shown by the gray bars) seem to have no significant impact on this measure.

How this graph was created: Search for “multiple jobholders,” select the series, and expand the sample period to the maximum range.

Suggested by Christian Zimmermann.

View on FRED, series used in this post: LNS12026620


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