The Rise of the Gig Economy By The Numbers

The side hustle landscape in America has seen significant growth and diversification in 2024, with a large portion of the working population engaging in various forms of secondary gigs.

Here are some key statistics and insights that highlight the current state and trends of side hustles in the country:

• Prevalence and Growth
  Approximately 39-40% of U.S. adults have a side hustle, with about 93% of working Americans reporting some form of side gig. This suggests that side hustling is increasingly becoming a supplemental source of income for many.
  

• Demographics and Engagement
  Millennials and Gen Zers are leading the charge in side hustles, with over half of these generations actively engaged in secondary gigs. Interestingly, men are slightly more likely to have a side hustle than women, and they generally earn more from these endeavors.
  

• Economic Necessity and Motivation
  A significant portion of side hustlers, about 33%, rely on this additional income for daily living expenses. Inflation has also driven nearly 29-33% of individuals to take on side hustles. The main motivations for side hustling include earning extra cash, achieving personal freedom, pursuing passions, and enjoying more leisure activities.
  

• Earnings and Commitment: The average monthly earnings from side hustles range between $483 to $810, with only 15% of side hustlers making more than $1,000 a month. Most side hustlers spend 5-20 hours per week on their ventures, often working on them during evenings after their regular jobs.
  

• Side Hustle Types and Platforms: Popular online side hustles include online surveys, freelance work, selling items, blogging, and affiliate marketing. In contrast, in-person side gigs consist of home repairs, landscaping, child care, and substitute teaching. The rise of the creator economy is notable, with a significant portion of independent creators working part-time.

• Challenges Faced: Growth and marketing are primary challenges for side hustlers, along with time management and idea generation. This indicates a need for efficient management tools, training, and support services tailored for this group.
  

• Technological and Automation Trends: A majority of side hustlers, about 65%, are leveraging automation to streamline their businesses. There’s also been a marked rise in online platforms for side hustles, with 40% finding work on such platforms in 2021, a notable increase from 15% in 2015.
  

• Impact of the Pandemic: The COVID-19 pandemic has reshaped priorities, with 47% of individuals now valuing family and personal well-being over work more than before. This has influenced the rise of side hustles, especially among younger generations valuing flexibility.
  

• Role of Education and Skills: Those with Bachelor’s degrees or higher are more inclined towards side hustles, indicating a correlation between higher education and entrepreneurial spirit or the availability of skills that are in demand.
  

• Future Outlook: The majority of side hustlers, 67%, anticipate continuing their gig outside of day-to-day expenses, reflecting its potential sustainability. Side hustling is projected to remain prevalent, with 39% predicting it to be the norm moving forward.

These statistics and insights were collected from various surveys and studies conducted in 2022-2023, providing a comprehensive view of the side hustle phenomenon in America as of 2024.