Multiple jobholder rates are the highest they’ve been since the Great Recession

According to Friday’s job report, the number of multiple jobholders in the US surged to a record 8.9 million in February, the highest since data tracking began in 1994. That’s 5.4% of all employed workers — a level last seen in April 2009.

What’s driving the surge? 

For starters, a single paycheck isn’t cutting it anymore: inflation has driven up the cost of everything — from groceries, to rent, to credit card bills — pushing more Americans to seek extra income. In addition, college degrees (even MBAs) no longer provide a straightforward route into an almost-guaranteed steady job and salary, resulting in an increasing number of grads taking on multiple positions to get by. Per the St. Louis Fed, college graduates now make up around half of the multi-job workforce in the US, up from ~31% at the start of 1994.

Beyond the people who need 2+ jobs, however, is a growing pool of side-hustlers, capitalizing on how it’s become a little easier to pick up some extra work. The rise of remote work and gig platforms have enabled full-time workers to clock in for second jobs at night or on weekends, according to The WSJ.

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