As the recession continues, more people who are lucky enough to still be employed in their main job are searching for sources of secondary income, scooping up hourly and part-time work.
Washington Post: With a grim economic outlook for 2009, more Americans are not just cutting costs but are finding ways to make more money by taking part-time or odd jobs, employers and economists said. Many are doing it because their wages have stalled while the cost of living has gone up. Others are picking up extra work to pay off debt or cushion their savings. For others, it’s a backup plan in case they get laid off from their full-time jobs.
In a survey of 1,400 workers by the staffing firm Express Employment Professionals, 42 per cent said they were looking for a second job to make ends meet. In a Pew Research centre survey of 2,413 adults, 24 per cent said they or someone in their household has taken an extra job because of economic troubles.
But be careful, experts say, an extra job could come with additional costs.
At a time when employers in many industries are scrutinizing every full-time employee, however, working a second job could have the unforeseeable effect of interfering with a primary job, human resources experts said…
Workers should also be aware of the possible hidden costs of taking on extra work, experts said. For example, if you have children, a second job could require you to spend more on child care. Or you might have to pay more for transportation.
“Sometimes we find that people don’t do their research, and the part-time job does not create the benefit it was meant to,” said Joanne Kerstetter, president of Consumer Credit Counseling of Greater Washington, a division of Money Management International, which is the nation’s largest nonprofit debt counseling agency.
Still, surplus income from, say, pedaling a pedicab, adds up.
On weekdays, [Nate] Chenenko dons a collared shirt, tie and dress slacks and heads to the Navy Yard where he is a contract specialist for the U.S. Navy.
On Thursday and Friday nights and on weekends, he switches to ski pants and a cap and drives people around the District in a pedicab, or bike taxi. Since he started in October, he’s been making about $19 to $23 an hour pedaling as many as four people at a time to such destinations as Union Station and the White House. It’s a big help, he said, especially considering that he is making about $40,000 a year, and that his grocery and utility bills have gone up.
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