High Earners and Side Hustles: A Growing Trend

In light of a cooling U.S. job market and an increase in first-time unemployment claims, a notable 64% of Americans are living paycheck to paycheck. Surprisingly, 26% of Americans earning over $100,000 annually engage in side hustles to supplement their income, surpassing the 22% of all U.S. consumers who do so. This trend contradicts the assumption that those struggling with monthly bills are most likely to seek additional income; only 23% of such individuals currently have side jobs, down from 29% last year. High-income earners are also more likely to earn passive income through investments, with 20% reporting such earnings. Selling used goods remains the most popular side hustle across all demographics, particularly among Gen Z, with 47% selling and 74% buying secondhand items. The report underscores that earning extra money on the side is common across all income levels, providing a financial cushion even for the affluent.