One job often isn’t enough in today’s America. According to a new report, nearly 40% of American workers have a side hustle. While there’s nothing inherently wrong with working multiple jobs, 65% of Americans with side hustles say they’d prefer to have just one source of income. The data suggests that economic factors, as opposed to individual preferences, are the biggest driving factor behind America’s side hustle trend.
It’s important to note that side hustles are nothing new and, in fact, they’ve become slightly less common over the past couple years. This year’s Side Hustle Survey found that 38% of American workers had second jobs, down from 44% in 2022, and 39% in 2020.
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What’s more, many Americans take up side hustles because they want to, not because they have to. Twenty-two percent of respondents with side hustles reported working secondary jobs to fill their spare time. Fourteen percent said that the side hustles were related to pursuing their passions, and 15% reported doing side hustles to help others.
Still, a majority of respondents with side jobs cited economic factors. Specifically, 49% of side hustlers said they started their gigs because of the economy. Forty-two percent said inflation had driven them to pick up multiple jobs, respectfully.
Side hustling varies across demographics groups. It’s most common among younger generations, with 50% of millennials and 57% of Gen Zers having side gigs, compared to 31% of Gen Xers and 16% of baby boomers. There is also a gender gap: 43% of men have side hustles, compared to 33% of women.
As you’d expect, income generation from side jobs varies widely depending on the type of job and the number of hours the worker puts in. The median amount side hustlers reported earning was $400 a month, while the average per-month was $1,215.
In regards to where the money goes, one-third said they needed a second income to cover cost of living expenses, 29% said it was to pay bills, 28% said it was to have money for discretionary spending, and 24% said it was to pay off debt.
Looking forward, it's clear that many American workers have come to view side hustles as a longer term proposition. Asked if they felt their side hustles provided long-term financial stability, 44% responded that their side hustles provided a solid long-term foundation, 38% said somewhat, but that it wasn’t a long-term solution, and said they were just short-term fixes.
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