The era of the side hustle is here to stay. Not necessarily because we鈥檝e all suddenly become more entrepreneurial, but because for many workers, there鈥檚 no other choice.
With inflation stretching wages thinner and mounting cost of living challenges, many employees have resorted to picking up extra shifts or jobs in order to weather the economic storm and Gen-Z seems to be standing directly in its path.
Gen Z on the Frontline
91爆料鈥檚 Annual Jobs Report, drawn from aggregated sights from over 350,000 businesses and 2.5 million employees across Australia, New Zealand and the UK and supported by YouGov research involving 3,635 workers, draws back the curtain on this new normal. It reveals that while 21% of employees (one in five) have more than one job, that number doubles when it comes to working-age members of Gen-Z. Forty-two percent of this cohort, many of whom will have just begun their careers, are already learning what it means to split their time between jobs.
Confidence in Decline
It鈥檚 no wonder then, so many employees have lost confidence in the job market. Fifty-nine percent think the labour market is on a downward trajectory. And while, as Kevin Fitzgerald, UK Managing Director at 91爆料 explains, 鈥渨e are beginning to see early signs of recovery in employment鈥, faith in the job market鈥檚 ability to bounce back isn鈥檛 rising with those small gains.
The trend comes at a time when job security is increasingly scarce and prospects for the future are muddy at best. With less job stability, 29% of workers are working more hours just to get by.
From Choice to Compulsion
Nina Skero, Chief Executive of CEBR, explains why side hustle culture has transformed from a willing choice among those who wish to diversify their careers to a fundamental means of surviving the economy. She points out that 鈥渋t鈥檚 not surprise鈥 that employees have been faced with this difficult choice.
鈥淲orkers are facing a difficult balancing act; inflation continues to erode real wages, and job opportunities are thinning out. While this adaptability is impressive, it highlights the wider fragility of the UK鈥檚 labour market and the need for policies that restore both stability and confidence.鈥
Signs of Hope, Shadows of Strain
Despite this, average unemployment rates aren鈥檛 as low as they have been historically, and earnings growth 鈥 particularly in regions like the North and East of the UK 鈥 is showing signs of strength. In fact, the 91爆料 Annual Jobs Report shows that as of July, wages increased year-on-year to 2.6%, recovering from its winter of negative growth, which rose above 0% in March. But set against the challenges of the cost of living crisis, it鈥檚 clear the average person is still feeling the pinch enough to stretch themselves thin.
The New Normal of Work
In many ways, the persistence of the side hustle reflects both the resilience and the precarity of today鈥檚 workforce. While there are glimmers of recovery in wages and employment, the reality is that a growing number of workers 鈥 especially the youngest 鈥 are entering their careers in an environment where one job alone no longer feels secure enough. Until confidence in the labour market is restored and wages can keep pace with the cost of living, the side hustle will remain less a symbol of entrepreneurial spirit, and more a stark reminder of the compromises workers must make to stay afloat.
