Despite a healthy economy and growing labor force, 3 out of every 10 American workers who have taken on a side hustle say they need that second job to simply make ends meet.
That’s according to Bankrate.com’s latest Side Hustle Survey of 2,550 full-time and part-time working adults conducted online in early May.
“Though the economy is strong, many Americans are finding it necessary to work on the side to make ends meet,” said Amanda Dixon, an analyst for the personal finance website.
The average side hustler brings in an extra $1,122 per month, working 12 additional hours a week, Bankrate.com said.
While two-thirds of survey participants said their extra income accounts for less than half of their monthly earnings, nearly one in three said the extra cash is needed to pay regular living expenses.
Millennials are the most likely age demographic to take advantage of the gig economy, the survey found, with 31% percent of young adults (those between ages 23 and 38) saying they earn extra money on the side to boost their savings. That number drops for their parents and grandparents, to 16% of Gen X and 18% of baby boomers, respectively.
“I get paid for 190 calendar days, but I work way beyond that,” said Gloria Brown, a math teacher at Colleton County Middle School in Walterboro, South Carolina.
Brown said that although the academic year is coming to an end, her work is far from done.
“Most teachers spend time outside of the classroom coaching sports, grading papers, overseeing clubs, and the list goes on.”