One in four young adults in America is interested in turning their side hustle into a career, according to a survey conducted by Bankrate. Gen Zers and millennials are found to be increasingly engaged in side work, such as freelancing or gig work, with more than half of Gen Zers and millennials having some kind of side hustle. Additionally, over 20% of Gen Zers and millennials want their side hustle to become their primary source of income. The survey also revealed that millennials earn the highest average income from their side hustles compared to other generations. The rise in side hustles among young Americans is attributed to the desire for financial stability and independence.
| Signal | Change | 10y horizon | Driving force |
|---|---|---|---|
| 1 in 4 young adult Americans want to turn their side hustle into a career | Shift in career aspirations among young adults | More young adults turning their side hustles into full-time careers | Desire for greater control over future and less dependence on corporate jobs |