Business

More workers take second jobs to bridge income gap

Federal Reserve chair Janet Yellen told the House Financial Services Committee on Feb. 11, “For much of the workforce, real wages have been stagnant in recent years.’’
Federal Reserve chair Janet Yellen told the House Financial Services Committee on Feb. 11, “For much of the workforce, real wages have been stagnant in recent years.’’Mary F. Calvert/Reuters

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Americans are holding multiple jobs to earn extra income in a still-erratic labor market, supplement wages that are essentially flat, or seek to get paid for time they spend on hobbies or interests anyway.

About 4.9 percent of working US adults have more than one job, with about half holding a full-time and a part-time position. The share of moonlighters has been steady since 2010, according to Bureau of Labor Statistics data, though down from 5.2 percent in 2008.

But the numbers may be higher than government statistics reflect because there have been fundamental changes in the labor market since the recession and recovery, said Bernard Baumohl, chief global economist at Economic Outlook Group in Princeton, N.J.

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