Side Hustle Statistics: Trends Emerge as Covid-19 Lingers into 2022

Key Findings:

» 41% of side hustlers depend on that earnings to cowl month-to-month payments, up from 27% in 2020.

» The proportion of individuals spending over 15 hours per week on their facet hustle(s) greater than doubled in 2021, growing from 12% to 27%.

» Over 50% of facet hustlers have tried 3 or extra completely different facet hustles over the previous 12 months.

» 76% of respondents predict that facet hustles will turn out to be much more standard in 2022.

» Discovering time is the most typical hurdle new facet hustlers face (29.6% of respondents).

» 48% of facet hustlers report much less time spent with family and friends as a results of their hustle.

» Outcomes present that facet hustlers with an internet site far out earn these with out their very own web site.

Great Plan, Ray conducts an annual Side Hustle Survey to get a pulse on facet hustlers throughout the nation. In 2020, the massive story was how the financial halt from COVID-19 compelled many employees to seek out different technique of earnings.

In 2021, as the financial system has roughly reopened and the pandemic has begun to taper, labor shortages have affected almost each business. Eating places are struggling to get again to being totally staffed, almost one in 5 healthcare employees have left their jobs, and numerous different industries are going through related difficulties.

Whereas there are numerous theories as to why that is occurring, the information clearly reveals that facet hustles have gotten more and more widespread in serving to folks bridge the earnings hole.

Side Hustling has Develop into Greater than Only a Passion

Final 12 months, simply over 1 in 4 facet hustlers (27%) have been utilizing that earnings to cowl obligatory month-to-month payments and bills. In 2021, that quantity has gone as much as 41%. Persons are extra depending on utilizing a facet hustle to make ends meet.

The elevated dependence we’re seeing on facet hustles additionally comes with a big improve in dedication. Our outcomes present that the common time spent on facet hustles has trended upward in 2021.

The proportion of individuals spending over 15 hours per week on their side hustle(s) greater than doubled in 2021, from 12% to 27%.

Earnings are additionally up dramatically, with almost 14% of side hustlers incomes over $1,500 monthly.

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The Downsides of Side Hustling

Though the gig financial system is booming, there are definitely challenges going through this portion of the inhabitants.

Much less time spent with family and friends isn’t the one sacrifice individuals are making. 9 out of 10 folks reported at the least some degree of sacrifice in pursuit of their facet hustle endeavors, with most of them reporting a number of sacrifices:

Methodology

Great Plan, Ray.com enlisted the companies of analysis agency Pollfish to conduct the survey. The entire pattern measurement was 500 U.S. adults who all reported having a facet hustle on the time of the survey. All figures, until in any other case acknowledged, are from Pollfish. The survey was carried out on-line in October 2021 and adheres to rigorous high quality requirements. Outcomes embrace a 5% margin of error. Respondents have been requested to reply every query in truth and to the very best of their skills.

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