50% of multiple job holders have college degrees

A Federal Reserve report reveals that in 2024, 50.2% of Americans with multiple jobs hold college degrees, up from 50.0% in 2023. This trend, known as "overemployment," reflects a growing number of educated workers taking on extra jobs. The report shows that 8.9 million Americans, or 5.4% of all employed workers, are juggling multiple jobs, a level not seen since the Great Recession. Many are motivated by financial needs due to rising costs and stagnant wages. While overemployed individuals earn slightly more on average than those with single jobs, the financial benefits remain limited. The trend is driven by both opportunity and necessity, as some seek additional income to cover expenses or pursue new career paths.