Friday, December 14, 2012

College Grads Most Likely To Moonlight And Hold Two Or More Jobs: Unchanged Over Last Ten Years

Posted by Milton Recht:
From Federal Reserve Bank Of Cleveland, Economic Trends, "Moonlighting" by Jonathan James:
For some workers, one job isn’t enough. In any week, more than 5 percent of workers hold more than one job (about 7.2 million people in October 2012). While most multiple jobholders work only two jobs, a significant share, about 10 percent, work three or four jobs.
Perhaps less well known is that the rate of multiple job holding varies significantly by education level. Those with some college or a college degree are almost twice as likely to hold multiple jobs as those with just a high school degree.

Source: Federal Reserve Bank Of Cleveland
Finally, unlike many other features of the labor market, for example unemployment and hours worked, the rate of multiple job holding has changed very little over the last 10 years. While the unemployment rate has close to doubled during the recent economic downturn, the overall incidence of moonlighting has changed only about 15 percent from a pre-recession high of 5.78 percent in 2004 to its current low in 2012 of five percent.

Source: Federal Reserve Bank Of Cleveland

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