THE BASIS POINT

Are More People Working?

The December BLS report showed that 324,000 more people having multiple jobs.  Headline for the Establishment data (from employers) was 292,000 more jobs. If those 2 numbers are correct then 32,000 fewer people were working in December. The Establishment Survey is of jobs. Someone with 2 jobs is counted twice.  But the Household survey shows 485,000 more people said they were working.  What does this mean? I would guess that it means that during the Christmas shopping season more people had 2 jobs.  This implies that the jobs number for December was inflated by those 2-job people.