More Americans working 2 full-time jobs as side hustles skyrocket

Businessman talking on phone holding paperwork and coffee
Photo credit Getty Images
By , KYW Newsradio

It's a side hustle if you do it in addition to your job, but what's it called when you're hustling your way through two full-time positions? More Americans are finding out.

The Washington Post reports that amid skyrocketing inflation, the percentage of people working multiple full-time jobs in the United States increased from 4% in April 2020 to 4.8% in June 2022.

And that's just the full-time number. When you add in 'side hustles,' part-time, freelance, or contract gigs that people perform to earn extra money in addition to their full-time job, the number skyrockets.

Forty-four percent of Americans are working at least one extra job to make ends meet, according to survey from Insuranks, a small-business insurance marketplace, that took place from May 31 through June 2.

"An additional 28% said that they took on a secondary gig due to inflation — the highest the U.S. has experienced in 40 years — driving up costs," CNBC reported.

The Insuranks survey found that side hustlers spend, on average, 13 hours a week on their second job and bring in an extra $483 per month.

On one hand, economists say it's a positive sign that jobs are available as the latest jobs report showed that employers added a healthy 372,000 jobs in June, keeping unemployment at a very low 3.6%. But, as the Post noted, the number of people taking on multiple jobs is "also a sign of increasing financial strain on Americans’ pocketbooks."

Average hourly earnings in June rose by 5.1 percent from a year earlier while inflation rose 9.1%, the biggest spike since 1981.

Gas, groceries and more cost more than they did a year ago, which is driving people like Hermes Diaz, a construction worker from Queens, NY, who had to take a second job as a commercial cleaner because of rising prices, working up to 90 hours a week to pay rent and his daughter’s college tuition.

“I can’t buy the same things I used to buy,” Diaz said to the Washington Post. “Even really cheap clothes. Fruit. The same type of rice. The eggs are too expensive. I have other priorities. I am buying a lot less, but I am spending more money.”

CBS News reported on a family forced to take out loans to pay for the $200 a week in gas it costs to get their 15 year-old daughter to appointments for bone cancer treatment in rural Indiana.

"Let's pay the majority of the bills," Analiza Vincent told CBS. "But the end of the day, I said, 'Wait a minute, we do not have money for gas. So I end up, like, going the instant cash. That's our best friend right now."

LISTEN on the Audacy App
Sign up and follow Audacy
Facebook | Twitter | Instagram

Featured Image Photo Credit: Getty Images