Americans are working harder than ever, and it’s not just for a little extra cash to spend on the weekends. Today’s economy has transformed the traditional 9-to-5 job into an endless hustle, forcing millions of citizens to juggle multiple roles just to cover basic expenses. A recent survey by Checkr confirms what many Americans already feel in their gut: a shocking 42 percent of respondents now hold side hustles, and among Generation Z—the youngest adults entering our workforce—that number climbs to a staggering 52 percent.
Why the dramatic shift? The answer is painfully simple: the American dollar isn’t stretching as far as it used to. A full 76 percent of workers surveyed said their salaries have less buying power than prior generations. With inflation looming large and uncertainties still haunting our economic landscape, the financial pressure on middle-class families isn’t just a talking point—it’s a harsh reality.
For investors and market-watchers, this troubling trend is more than just a social phenomenon—it’s a genuine red flag. Taylor Kovar, CEO of Kovar Wealth Management, told The Epoch Times that this uptick in side hustles signals deeper vulnerabilities in our economy. “Some people are juggling a full-time and part-time job to stay afloat,” Kovar said. “This trend also tells me that a lot of families are running leaner than they’d like, with little margin for any surprise expenses.”
This reality isn’t just anecdotal. Hard numbers from the Bureau of Labor Statistics back it up: as of May this year, over 8.5 million Americans reported holding multiple jobs—the highest May figure in a decade. The majority juggle a full-time role alongside part-time work, while others cobble together multiple part-time positions just to survive.
Amy Marseglia, a seasoned real estate broker in Massachusetts, captures the essence of this new American hustle. With 20 years in the real estate industry, Marseglia now supplements her income as a personal grocery shopper for homebound seniors, a gig she started during the COVID-19 pandemic. “Real estate can be very sporadic,” Marseglia explained. “This opportunity popped up, and while it’s not a huge paycheck, it does get extra money into my pocket between real estate deals.”
Marseglia’s experience underscores an important market indicator: real estate, historically a sturdy pillar of the economy, remains sluggish. Redfin recently reported nearly 59,000 home purchase agreements were canceled nationwide in May alone—a whopping 14.6 percent of properties under contract. With home prices stagnating and mortgage rates still elevated, many professionals in real estate—and countless other industries—are finding themselves forced to diversify income streams.
An associate broker with William Raveis Real Estate in Wellfleet, Massachusetts, Amy Marseglia moonlights by grocery shopping for homebound seniors. With over 20 years in the real estate business, she took on the role of personal shopper during the COVID-19 pandemic, and is still enjoying the job, and the extra income.
“It’s actually very calming for me,” she said. “It’s just a little job where I go to the grocery store, chat with people, pick up my list and shop.”
Marseglia typically arrives at 7:30 a.m. twice a week and works for a few hours each time. Many of her clients are repeats, so she knows exactly what they’re looking for and where to easily find the items.
“Real estate can be very sporadic, so this opportunity popped up, and while it’s not a huge paycheck, it does get extra money into my pocket in between real estate deals,” she said.
As many published reports have indicated, the residential real estate industry has been stagnant over the past few years with low inventory and buyers who have been priced out of the market.
From an investment standpoint, the rise of the side hustle economy sends mixed signals. On one hand, services like Uber, DoorDash, and Etsy have made it easier than ever for individuals to turn spare time into extra income. Investors have seen these gig-economy platforms thrive as economic pressures mount, and that trend seems poised to continue. On the other hand, the reliance on secondary jobs raises serious questions about the true health of the American consumer and their disposable income—critical factors that drive corporate profits and stock market performance.
Kovar warns investors to pay close attention to this emerging trend. “In many cases, a second job is seen as a way to close a gap or to build savings,” he explains. “But inevitably, expenses rise to match the extra income, leaving families in no stronger position.” If Americans are working multiple jobs yet still failing to build wealth or savings, the implications for consumer spending—and thus our overall economy—are troubling.
As conservatives, we champion an economy where hard work is rewarded, where a full-time job can comfortably provide for a family, and where Americans have the freedom to pursue side ventures out of passion—not desperation. Yet today, millions find themselves working harder for less, and that’s a clear sign that our economy still needs serious reform. For investors and financial planners alike, understanding this new reality will be key to navigating the next phase of America’s economic journey.
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