The number of Americans holding multiple jobs has surged, with Generation Z leading the charge. According to a study by Block Inc.'s Cash App, Americans with more than one income stream now number 51 million, up from 41 million two years ago, representing a 30 percent increase from 2024.
Gen Z at the Forefront
The growth has been driven by Generation Z, with almost 16 percent holding multiple jobs, five times the rate of Baby Boomers. This trend reflects a broader shift in how Americans earn money, with 57 percent of Cash App's users generating income through freelancing, entrepreneurship, content creation, side businesses or multiple jobs.
Changing Labour Market
Owen Jennings, a business lead at Block who oversees product, operations and customer-support functions, said younger workers are increasingly relying on these income streams, driving demand for tools to manage variable cash flows. "Younger generations are opting for more flexibility and so I think that means the shape of the labour market has changed meaningfully," Jennings said in an interview. "The way people are participating in the United States economy and earning money has fundamentally changed."
Financial Services Gap
The Cash App study found that many "modern earners" are underserved by traditional financial institutions, which often base products such as credit underwriting and tax services on the assumption that workers receive a single paycheck from one employer. As a result, some are shut out of credit, benefits and homeownership despite having comparable incomes. Just 21 percent of modern earners on Cash App hold mortgages, versus 32 percent of salaried workers.
Tailored Financial Tools
With Generation Z, those born between 1997 and 2012, accounting for 44 percent of modern earners, Block's Cash App is increasingly tailoring banking, investing and other money-management tools to younger consumers. Last week, Cash App unveiled a payment device aimed at teens and young adults that looks like a sparkling wand. Cash App has also introduced credit scores for customers with limited credit histories, which the company says can help expand access to financing. Its Cash App Borrow product offers small, short-term loans designed to help users manage periods of uneven income, according to Jennings.
