The Growth of Side Gigs

That side gigs - part-time or occasional work to supplement income - have become more common is hardly new news. Nor are the reasons behind the growing number of Americans with side gigs.

Simply put, workers up and down the income ladder are finding that their compensation simply doesn’t keep up with rising costs, especially of education, health care, and housing. 

Because of this, more Americans are turning to side gigs to help them make ends meet.

As the chart below from the 2019 MBO Partners State of Independence study shows, the number of "occasional independent" workers has increased by roughly 50% over the past 4 years.

Occasional independents are are workers who report working independently occasionally or sporadically, but at least once a month on average. 

Most occasionals have other jobs, but many have activities such as care giving, homemaking, school, etc that keep them from having a traditional full or part-time job. 

And, of course, most occasional independents are working side gigs to supplement their income. Other reasons for side gigs are to pursue a passion, build skills and to start or test out a new business opportunity.

Another reason side gigs are growing is that online platforms and marketplaces are making them easier to do. These platforms provide a low friction (meaning it's easy and quick to get started), highly flexible (work when you want or can) work options.

With wage stagnation, the hollowing out of middle skill jobs and the rising costs of housing, healthcare and education showing no signs of abating, we believe the number of Americans with side gigs will continue to grow.

Comments

[Aileen]

I agree with you, with apps making a lot of side gigs accessible to everyone, it's not surprising that everybody would like to get on at least one. In fact, if you have the right strategy, you could even be active on multiple gigs all at once!

Here's a list of gigs that shows just how many gigs are available out there. https://uberdriverthings.com/41-legit-money-making-on-demand-jobs-like-uber-to-stack-your-side-hustle/