Goldman Sachs Survey Finds 60% of Americans Side Hustle
Goldman Sachs Asset Management reports that over 60% of Americans work outside their primary roles due to financial necessity and inflation.
A July survey conducted by Goldman Sachs Asset Management and Escalent reveals that more than 60% of Americans have worked outside their primary roles, driven largely by financial necessity. The report indicates that traditional full-time employment is increasingly insufficient for covering daily expenses and ensuring retirement security as wage growth fails to keep pace with inflation.
Gen Z and millennial workers are the most likely to engage in freelance work or side hustles. While many of these younger workers report that their primary jobs provide stability, they are frequently forced to delay major financial milestones, such as homebuying and building emergency savings.
The survey identifies two distinct strategies among workers. Some pursue portfolio careers through stability stacking to mitigate layoff risks, while others have become overemployed by working multiple full-time remote roles to accelerate early retirement or debt repayment.
