Ways to Snag Extra Cash in Recession Economy

Oct. 22, 2008— -- Even for workers who are employed full-time, an economic slowdown can mean lowered commissions, reduced hours and an end to overtime. That leads many to find second jobs or alternative sources of income to compensate for the loss.

Among the possible avenues to pursue:

Odesk connects skilled professionals such as software developers, graphic designers, copywriters and sales reps with businesses that are eager to hire freelancers for project-based and hourly work. Odesk says it has seen a 16 percent increase over last month of new freelancers looking for 15 hours of work or less per week.

Elance.com, another platform to connect freelancers with companies of all sizes, saw a record number of jobs posted on its site: 22,000 new jobs were added in September 2008 compared with 13,000 in September 2007. Craigslist.com and Guru.com also offer access to opportunities.