Pros
As a part-time employee at a Category IV airport, I had plenty of time to finish college in between flights and training. Schedules could be easily adjusted for sick days and vacation days. Earning leave doesn't take too long to accrue: part-time TSOs without military experience earn two hours of sick leave and two hours of annual leave per pay period. The government offers many health insurance carriers and we have the option to carry vision and dental insurance at reasonable rates. There are savings plans and retirement plans available.
Cons
Often the airports are understaffed, and asking for time off can be difficult if there is insufficient staffing. There is little room for upward mobility, particularly if one is at a smaller airport. Part-time positions are widely available, but it is incredibly difficult to obtain full-time status unless one is willing to transfer to a new airport and wait until a full-time position is open. Training is geared towards those with little education, is repetitive, and incredibly tedious with little result.