The Daily Money: More Americans are taking on multiple gigs

High inflation has led to more Americans working at least two jobs and more seniors saying Social Secuirty check hikes are falling short.

Advertisement Read in browser Read in browser The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW Mon Nov 6 2023 Bailey Schulz | Money Reporter @bailey_schulz Happy Monday, Daily Money readers. It's Bailey Schulz here to bring you the day's top headlines. The number of Americans working two or more jobs has reached its highest level since the pandemic's start. Nearly 8.4 million people – 5.2% of the workforce – held multiple jobs in October. It's the largest share of moonlighters since January 2020. Experts say people may be taking on extra work in response to inflation , which pushed prices up 4.7% in 2021, 8% in 2022 and 3.5% so far in 2023. People could also be bracing for possible layoffs, which tend to peak at the start of a new year, or padding their coffers for the holidays. "Paying for necessities has become more of a challenge, and affording luxuries and discretionary items has become more difficult, if not impossible for some, particularly those at the lower ends of the income and wealth spectrums," said Mark Hamrick, senior economic analyst at Bankrate, in an email. Ocean County College hosts a job fair for part-time help.Toms River, NJTuesday, April 5, 2022. Doug Hood / USA TODAY NETWORK Social Security checks are up, but still not enough for many seniors Social Security checks will increase next year thanks to a cost-of-living adjustment (COLA) of 3.2%, but many seniors say the hikes are falling short as the cost of items older adults spend most of their money on – including healthcare – consistently outpaces COLA. More than one-quarter of the 1,055 adults surveyed by The Senior Citizens League in the first three months of the year said they had depleted a retirement account over the past 12 months, up from 20% in the second half of last year. A record 45% said they carried credit card debt for more than 90 days even as interest rates soared, the League said.  Poverty has increased among Americans age 65 and older for three years in a row to 14.1% in 2022 from 10.7% in 2021, according to the latest Census Bureau data.  📰 More stories you shouldn't miss 📰 Thanksgiving meals to-go: Where to pre-order your family dinner Toyota, Ford, and Jeep among 2.1 million vehicles recalled: Check car recalls here Car dealer agrees to refunds after allegations of discrimination against Native Americans Passengers sue US airline for 'emotional distress' after off-duty pilot attempted hijack 🍔 Today's Menu 🍔 Check your freezer for "Fun Nuggets." Tyson Foods has recalled the line of dinosaur-shaped chicken nuggets after customers reported that the food was contaminated with "metal pieces." One minor oral injury was reported in the release announcing the recall. Approximately 16,500 packages of the product were shipped to distributors in Alabama, California, Illinois, Kentucky, Michigan, Ohio, Tennessee, Virginia, and Wisconsin to be sent to stores. The affected products were made on Sept. 5 and have an establishment label of P-7211.  About The Daily Money Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. More Americans are working two jobs, a sign of lingering inflation The number of Americans holding multiple jobs has reached its highest level since the pandemic's start. Inflation, remote work may be factors. READ MORE Advertisement Amazon's secret pricing tool raised prices by $1 billion, FTC says New revelations in a federal anti-trust lawsuit against retail giant Amazon outline a secret pricing tool used to purposely inflate prices. READ MORE 2024 Social Security COLA's eaten by health care, leaving seniors in red Social Security recipients will get a 3.2% COLA raise in 2024. All of it and more will likely be eaten by health care costs, leaving seniors in a hole. READ MORE No cheer over cooking this year? Where to pre-order your Thanksgiving meal If there is more dread than cheer around cooking this year, here are other ways to enjoy a Thanksgiving dinner. Pre-order from one of these 18 available chains. READ MORE Toyota, Ford and Jeep among 2.1 million cars recalled last week Toyota, Ford, Chrysler, Mazda, Kia, Porsche, Nissan and Subaru had vehicles recalled last week. Check here to see if your car is affected. READ MORE Why Native Americans paid over $1K more in fees on cars at this dealership Rhinelander Auto Center in Wisconsin is ordered to refund $1.1 million to customers it allegedly defrauded. READ MORE 'A wake-up call': Passengers sue Alaska Airlines after pilot incident Three passengers filed a lawsuit to hold Alaska Airlines accountable after an off-duty pilot attempted to hijack and crash a plane last week. READ MORE Check your freezer: Tyson recalls dinosaur nuggets over contamination Tyson Foods recalled packages of its "Fun Nuggets" line of chicken nuggets after customers reported finding, "metal pieces." READ MORE Jackpot rises to $179 million: When is the next Powerball drawing? The Powerball jackpot is worth an estimated $179 million ahead of the next drawing on Monday, Nov. 6. READ MORE Amazon founder Jeff Bezos buys 2nd home in luxe Indian Creek Village Jeff Bezos, founder of Amazon and Blue Origin, reportedly paid $79 million for a 7-bedroom, 14-bathroom waterfront home in luxe Indian Creek Village. READ MORE Advertisement Sign up for the news you want Exclusive newsletters are part of your subscription, don't miss out! 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