LendingClub reported on Tuesday that 44% of Americans have a second employment, a rise of 13% since the Trump administration.
Sixty-nine percent of working professionals, according to a study by FlexJobs, either have a second job or want one, highlighting a trend that has recently increased under President Joe Biden.
Longer hours at a second employment are appealing because Biden’s 40-year high inflation will add $5,200 to the typical American family’s expenses in 2022, or $433 per month.
Biden is increasing taxes on the so-called gig economy while many Americans are compelled to increase their revenue by working longer hours at a second employment.
Worker revenue of $600 or more must be reported to the IRS on Form 1099-K, as reported by Breitbart News in November. Biden’s American Rescue Plan Act of 2021 prompted the advisory.
Biden has previously advocated for the wealthy to “pay your fair share,” but he has not done so for the ordinary American until now.
A total of 62% of Americans, including 48% of high-income customers, were living paycheck to paycheck in February, up 2% from the previous month, according to a study by LendingClub.
Michael Foster of Breitbart News reported:
The study found that of those who reported “with issues paying the bills,” 39% cited “extraordinary expenses” as the reason they were looking for additional employment.
Over the past three months, a growing proportion of respondents (55%) said their supplementary money had grown as a percentage of their overall income.
Between February 7 and 23, 2018, 4,125 American customers were surveyed for the study, which also factored in data from other sources on the economy.