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Rise of Side Hustles as Americans Seek Extra Income to Cope

Left 50% Center coverage: 8 sources Right

New York, USA

May 19, 2025 Neutral I'm focusing on career/side hustles

New York, USA: A growing share of Americans—44% per recent surveys—now report holding at least one side hustle, with nearly half citing living expenses as the primary motivator. Many earn under $500 monthly, though a notable minority surpass $2,000 from activities like freelancing, e-commerce, tutoring, or tech-based gigs. As inflation strains household budgets, workers increasingly juggle these extra roles, either to cover essentials or test new business ideas. Experts note that certain side hustles can become main gigs over time if demand persists.

What this means for you:

•	If your salary no longer covers basics, exploring remote freelance or specialized gig work could ease financial pressure.
•	Keep track of scheduling and tax implications—excess hours might cause burnout, and side hustle income must be reported.
•	Certain industries (like web design, content creation, or tutoring) can pay more, so look for gigs that leverage your existing expertise.
•	Having a second income stream can provide a safety net if layoffs or unexpected costs arise.
•	If your side hustle grows significantly, weigh formalizing it via an LLC or separate accounts for better record-keeping.

Key Entities

• Lending Tree & Bankrate Surveys: Found widespread reliance on supplemental income, especially for Gen Z and millennials.
• Gig Platforms: Freelance or on-demand marketplaces enabling tasks from rideshare driving to online marketing.
• Prospective Entrepreneurs: Often launch side hustles as a trial before committing to full-time self-employment.

Bias Distribution

Left: 25% (2 sources)

Center: 50% (4 sources)

Right: 25% (2 sources)

Multi-Perspective Analysis

Left-Leaning View

Stresses structural wage stagnation, pushing workers to juggle multiple jobs.

Centrist View

Highlights personal finance strategies and the variety of gig work options.

Right-Leaning View

Emphasizes individual responsibility and market-driven solutions to cost-of-living issues.

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