Record 8.9 Million Americans Work Multiple Jobs

A record 8.9 million Americans, or approximately 5.4% of the workforce, are working multiple jobs, according to the Bureau of Labor Statistics, marking the highest rate since the Great Recession in 2009. This trend is driven by the need to combat financial pressures such as inflation, rising living costs, and stagnant wages, with many workers unable to find full-time positions or experiencing reduced work hours. Interestingly, over half of these multiple job holders have college degrees, indicating a shift in the demographics of this group. The economic benefits of holding multiple jobs are limited, yet many Americans are reliant on this extra income to manage their debts and expenses. The demand for additional work is compounded by soft demand for labor, leading employers to cut back on hours available to employees. Unfortunately, side hustle scams are also on the rise, with many individuals losing money in fraudulent schemes.