The economic effects are also not pretty. A 30 year mortgage made sense when people would spend a decade or more with a single employer. And more frequent job changes means not only more total time unemployed over one’s working years, but also the very high odds of falling out of a highly or even moderately paid career path to a much lower one as the work place continues to be restructured.
A New York Times piece tonight describes the latest stage of this sorry devolution: “job jugglers” who hold down multiple part time jobs to make a living. This sort of thing used to happen only to lower income people, artists, or people who live in resort areas. The article makes clear that this is often a hand-to-mouth, high stress existence, although the interviewees put a brave face on it. And we aren’t necessarily talking having one income source in the days and another in the evenings: three of the individuals featured had four jobs. Even then, they barely cover their expenses.
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