The rise of 'income stacking': Why Gen Z is juggling multiple jobs

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The rise of 'income stacking': Why Gen Z is juggling multiple jobs

Timeka Gomillion is working two jobs — as an usher at an event space, and a receptionist at the student center — while finishing her computer engineering studies at the University of the District of …

Timeka Gomillion is working two jobs — as an usher at an event space, and a receptionist at the student center — while finishing her computer engineering studies at the University of the District of Columbia. The 35-year-old said she's juggling multiple jobs out of financial necessity — and with rising living expenses , she expects to maintain several jobs even after she lands a position on her career track. "One job would be easier, but I know that if I have another one, that's a check I can either put to the side or could just be my play money," she said. Gomillion is among the rising number of Americans who are "income stacking," or taking on multiple jobs to build financial security. That revenue stream might be a side hustle or freelance work on top of a full-time job, for example, or several part-time roles. After dropping during the coronavirus pandemic, the share of people working more than one job has increased over the past few years, government data shows. In April, nearly 8.4 million U.S. adults, or about 5.2% of the workforce, were working multiple jobs, according to the Bureau of Labor Statistics . More from Your Money: Here's a look at more stories on how to manage, grow and protect your money for the years ahead. "It's important context to look back and see that actually around Covid, that number plummeted from the pre-Covid era to an historic low," said Andrew Garin, assistant professor of economics at Carnegie Mellon University's Heinz College. …

Original source: CNBC Top News

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United States · Defense Department · Bureau of Labor Statistics