US Labor Market: Gig Workers, Part-Time, and Multiple Jobholders at Historic Lows

In July, the US labor market saw historically low shares of self-employed, part-time for economic reasons, and multiple jobholders, according to data from the Bureau of Labor Statistics. Self-employment, including gig workers, rose to 9.07 million, accounting for 5.6% of total employment, a historically low share. Part-time employment (up to 34 hours per week) totaled 28.76 million, or 17.7% of employment, with 22.8 million working part-time for noneconomic reasons (childcare, school, retirement) and 4.8 million for economic reasons (wanting more hours), representing 3.0% of employment—historically low but above the 2.5% seen in prior hot labor markets. Multiple jobholders (two or more jobs) numbered 8.58 million, or 5.3% of employment, the lowest since late 2024. Of these, 55% held a full-time and part-time job, 25% had two part-time jobs, 5.5% had two full-time jobs, and 13% had varying hours. The data, analyzed by Wolf Richter on WOLF STREET, highlight the complexities of the labor market, with multiple jobholding reflecting diverse income streams rather than distress. The figures suggest a tight labor market, though not as hot as previous peaks.