Multi-jobholders hit 9.4 million as US support for capitalism falls
Support for US capitalism has dropped to 54% as 9.4 million Americans work multiple jobs, signaling deepening consumer distress and a political shift toward stronger market regulation.
Candidates affiliated with the Democratic Socialists of America have secured victories in several competitive Democratic primaries. Because these candidates reside in progressive strongholds, they are heavily favored to win House seats in the November 2026 elections.
Their political momentum is tracking alongside a measurable deterioration in the broader public's economic confidence. Support for capitalism fell to 54% in 2025, down from 60% four years earlier.
This skepticism is grounded in wage and employment data. The number of Americans working multiple jobs to cover expenses reached 9.4 million in November 2025. That is the highest level recorded since the Bureau of Labor Statistics began tracking the metric in 1994.
Median wages are failing to keep pace with the cost of living, while workers increasingly bear the direct costs of their own retirement and healthcare. Many service-sector employees also face algorithm-driven scheduling that renders their income unpredictable.
Regulatory implications for markets
For investors and corporate executives, the DSA's electoral success points to a growing political market for interventionist economic policies. The candidates' platforms prioritize increasing housing access, mandating better working conditions and regulating utility bills.
If these lawmakers secure House seats in 2026, they could exert pressure on corporate bottom lines by advancing legislation that restricts algorithmic scheduling or imposes new costs on housing and utility providers.
State-owned enterprise in practice
While Republicans and President Donald Trump have characterized these electoral shifts as a socialist threat, some institutionally "socialist" financial models already operate successfully within conservative states.
North Dakota hosts the Bank of North Dakota, the only state-owned financial institution in the US. Founded in 1919, it runs education, business, agriculture and infrastructure loan programs.
The state also operates the North Dakota Mill, the only state-owned milling facility in the country. It operates without public funding and instead transfers 50% of its profits directly into state coffers.
Private but mutually owned financial institutions also dominate there. Gate City Bank, established in 1923, is the state's largest bank by branch count and fifth-largest by total assets. Credit unions and agricultural cooperatives further reduce the risk profile for local businesses.
These structures demonstrate that alternative ownership models can be financially viable and generate public revenue. For market participants, the rising popularity of DSA candidates suggests that similar models could eventually be proposed at the federal level as policymakers attempt to address the economic insecurity driving 9.4 million Americans to work multiple jobs.
