College-Educated Americans Increasingly Hold Multiple Jobs for Stability

A growing number of college-educated, middle-income Americans and women are seeking multiple income streams to create a financial buffer against an unsteady labor market. Data from the Federal Reserve Bank of Richmond indicates that middle-income earners are now more likely to hold multiple jobs than low-income earners, marking a significant shift from pre-pandemic trends where proportions were similar across income groups.

College-educated workers now comprise over half of all multiple jobholders, an increase from approximately 35% in the 1990s. Bureau of Labor Statistics data further shows a rise in women holding multiple roles, with the most notable increase among those aged 20 to 24.

This shift toward the side-hustle economy is reflected in a Bankrate survey, which found the share of Americans with a side hustle rose from 19% in 2017 to 27% in 2025. The trend is attributed to a general desire for stability in a risky job market and a rise in white-collar layoffs linked to the adoption of artificial intelligence.