Each year, DollarSprout conducts an annual Side Hustle survey to gain the pulse of side hustlers across the country. It’s 2020 big story how the economic stalemate due to COVID-19 forced many workers to find alternative ways of earning.
In 2021, as the economy more or less reopened and the pandemic began to shrink, labor shortages affected almost all industries. Restaurants are trying to get full staff back, almost every fifth health workers have left their jobs, and countless other industries are facing similar problems.
Although there are many theories as to why this is happening, the data clearly show that side effects are becoming more common in helping people bridge the income gap.
Side hustling has become more than just a hobby
Last year, a little past 1 in 4 side scammers (27%) used this revenue to cover the necessary monthly bills and expenses. In 2021, that number rose to 41%. People are more dependent on using side hustle and bustle to make ends meet.
The increased dependence we observe from side tendencies is also associated with a significant increase in commitment. Our results show that the average time spent on side paths increased in 2021.
The percentage of people who spend more than 15 hours a week on the sidelines more than doubled in 2021, from 12% to 27%:
Earnings have also increased dramatically, with almost 14% of side traffickers earning more than $ 1,500 a month:
Despite the fact that more and more people are using side ambulances to earn for urgent expenses, enjoyment and flexibility still prevail when it comes to the most important things when choosing a side rush:
In fact, in 2021, the most deserving are those who have tried 5 or more different types of performances, which shows that it’s worth trying out the box to see what works best:
Another trend of highly successful in our research study shows that side hustlers have own website those who do not:
For those who use social networks to promote their products or services, here’s how different platforms come together:
Social media is not the only online marketing tool available to new entrepreneurs. Here are ten others digital marketing skills which they do not teach in school.
As people become more and more invested in earning on the side this year, it should come as no surprise that side scammers are extremely sympathetic to the trend coming in 2022:
Disadvantages of side hustling
Although it is the economy of concerts is booming, there are certainly challenges facing this part of the population.
Less time spent with friends and family is not the only sacrifice people make. 9 out of 10 people reported at least some level of sacrifice in the performance of their side efforts, with the majority reporting multiple casualties: