With consumer household debt hitting record highs, more Americans are picking up extra work to cover bills and becoming reluctant hustlers.
A new survey from AI-powered career platform Zety found that 38% of respondents have taken on side gigs or second jobs to make extra money and keep up with their debt. The online poll of 1,005 U.S. employees was conducted by Pollfish.
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Not one respondent reported being debt-free. In fact, 43% said they’re carrying more than $25,000 in debt, and one in five said they owe at least $100,000.
That’s why some Americans are “taking on side jobs for extra cash, accepting roles they don’t want, and making urgent trade-offs to manage their financial obligations in an increasingly volatile economy,” according to the report.
The rise of the reluctant hustler
This trend lines up with other data about the labour market. The number of Americans holding multiple jobs steadily increased from 2010 to 2020, according to the Federal Reserve Bank of St. Louis. After a dip during the pandemic, those numbers have bounced back to record levels.
And this rise in side hustles isn’t slowing down. A Harris Poll for the American Staffing Association (ASA) found that more than six in 10 employed U.S. adults say they’re likely to pick up extra work in the next year.”
“For growing numbers of Americans, a side hustle can be a good way to build savings, pay off debt, find a new job, or change careers. However, for others, a side hustle means having enough money to make ends meet,” said Richard Wahlquist, CEO of ASA, in a release. “With economic uncertainty dominating the headlines, it’s not surprising to see Americans looking for ways to create some breathing room in their budgets.”
Zety’s survey also found that most respondents are shifting their financial habits to manage debt and prepare for potential fallout from U.S. policy changes. Nearly four in five (78%) believe tariffs will make it harder to repay or avoid debt.
To cope, 38% said they’ve cut back on non-essential spending and 25% have increased their minimum payments. Others reported transferring balances (13%), delaying repayment (14%), consolidating debt (8%), refinancing (5%), seeking financial counseling (5%) or negotiating with lenders (4%).
Meanwhile, U.S. consumer confidence continues to deteriorate across most age and income groups, according to The Conference Board’s Consumer Confidence Index. And despite inflation cooling, real wages haven’t seen much growth over the past decade. From May to June, real average hourly earnings dipped 0.1%, according to the Bureau of Labor Statistics.
Stagnating wages and fears of rising costs from tariffs and trade disputes are putting added strain on American households.
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Debt is carving new career paths
Student loans, medical bills and credit card debt are forcing many workers to take jobs outside their skill set, accept precarious roles or put their career ambitions on hold.
Debt isn’t just pushing Americans toward side hustles; it’s also influencing work and career choices. A Harris Poll conducted for ASA in August 2024 found that 73% of American workers are in debt, and 40% of them said their debt is influencing their career choices.
Roughly a third of Zety’s respondents said they’ve taken jobs they didn’t want or were outside of their industry to manage debt. Another 17% said they would start a business, return to school or freelance if they weren’t carrying debt.
“Debt is a growing force behind why people take certain jobs, stay in roles longer than they’d like, or hesitate to make a career pivot,” Priya Rathod, a career trends expert at job site Indeed, told CNBC.
And the pressure isn’t likely to ease any time soon. Household debt remains at record highs, and debt service payments as a percent of disposable income are creeping back up from historic lows.
But before jumping into a side hustle, it’s worth taking a hard look at the math. According to the Federal Reserve, workers with multiple jobs put in 174 more hours a year than single-job workers, yet earn $1.01 less per hour on average. That adds up to just $900 more annually.
“People really need to understand that working more hours is a short-term solution, and growing your main income is a long-term strategy,” Rathod told CNBC.
If your side hustle brings in good money, it might be worth the extra effort. But if it’s low-paying or unstable, you may be better off focusing on your current job, asking for a raise, pursuing a promotion or even changing careers altogether.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
