US labor data reveals an awkward reality. On the surface, employment numbers are growing, but a closer look shows that the increase mainly comes from part-time positions—more and more people are forced to hold multiple jobs simultaneously. Simply put, a single paycheck is no longer enough to cover current living costs. This is not a strong job market; it is a passive response squeezed out by high interest rates and rising prices. With shrinking wallets, people can only work more hours to make up for the income gap. The impact of this structural pressure on asset allocation and consumption deserves attention.