The financial website Bankrate did a little research on today’s economic environment. This is how they discovered that one full-time job is not enough anymore for people to swim in modern consumerism mediums. Therefore, around 44 million of Americans are resorting to side hustles to accommodate at least their minimum necessary to stay afloat.
Most Side Hustles Hunters Are Millennials as They Are Just Starting Their Careers
The new study uncovered surprising features of modern economic background. It turns out that around 28% of Millennials with ages between 18 to 26 need a side job to cope with their daily expenses. Around 96% of those who give in to this practice work extra chores at least once a month. At the same time, 61% of them are busy with their side jobs at least once a week.
However, all these additional efforts are not for nothing. Out of those who work for their side hustles at least once every month, 36% of them are earning at least $500. These funds seem to be necessary for young people who are just kick-starting their professional lives. Since most of the members of this group are aged between 18 and 26, their salary for their full-time jobs should be average.
Millennials are the majority of these 44 million Americans who rely on side gigs. However, their tech abilities help them greatly in these endeavors. They can easily get around mobile phones and online mediums to find clients or temporary employers for some extra cash.
However, despite their access to a large pool of gigs that exists online, youngsters are not gaining as much as older folks used to earn through their extra jobs. The older segment earns $500 in the proportion of 50% while there are only 19% youngsters at this level. On top of that, those who are close to retirement aged 53 to 62 have higher chances to land $1,000 monthly gigs.
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