ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

Gen Z are Making the Most of the Gig Economy; Here's how it has Evolved After the Pandemic

Dog walking to content creation, this generation has tried everything to make that extra buck!
PUBLISHED APR 15, 2024
Cover Image Source: Gen Z is embracing the gig economy (representative image) | Photo by Helena Lopes | Pexels
Cover Image Source: Gen Z is embracing the gig economy (representative image) | Photo by Helena Lopes | Pexels

Wages are not rising at the same pace as prices across America, and as making ends meet becomes harder, an increasing number of people are taking on side jobs. Among them are Gen Z who are particularly enthusiastic about opportunities in the gig economy. During the pandemic, regular occupations and activities were disrupted leading to an unstable economy, and here's how the world can adapt.

Image Source: Photo by Andrea Piacquadio | Pexels
Gen Z is embracing the gig economy (representative image) | Photo by Andrea Piacquadio | Pexels

Over half of Gen Zers have at least one side gig, per a LendingTree survey. They are being forced to work hard due to growing costs and the pandemic's economic fallout. They're in a terrific position to tell us everything there is to know about the world of side hustles because they're used to making additional money this way. Many of the profitable activities that people engage in nowadays are merely sophisticated forms of traditional part-time work. Teens have been baby sitting for decades to get some extra cash. The main difference now is that at present, the youth may be using the earnings from this side job on necessities like rent and bills and not on treats.

Furthermore, finding a job as a babysitter or pet sitter is now simpler than ever thanks to smartphone apps. For hustlers, this means more opportunities. Some people may even manage several pet-sitting gigs in a given week. You'll have a busy workweek if you include other side gigs like content creation, counseling, or virtual assistance. Because of this, a large portion of Generation Z depends on additional money to get by.

Earning more by working for a short time

Gen Zers make over $1,500 a month on average from their side projects. This figure may increase significantly if they are managing many jobs concurrently. These hustlers occasionally experience unanticipated success that continues to expand even after leaving their usual full-time work. For instance, if someone launches a successful podcast, they begin to make a ton of money from sponsorships and advertisements. Then, to garner even more support from their listeners, they might go one step further and start a merchandise store.

Image Source: Photo by Christina Morillo | pexels
Gen Zers make over $1,500 a month on average from their side projects (representative image) | Photo by Christina Morillo | Pexels

The Gen Z generation is well aware that not every job is worthwhile. Although responding to surveys may seem simple, it frequently takes a lot of effort and pays relatively little. What about websites for independent contractors? They offer little more than cents. Hence, it's wiser to concentrate on side gigs like dog walking, web design, coaching, photography, and writing.

Many Gen Zers have been let down by traditional employment. Therefore, in an attempt to have more control and flexibility in their lives, they are turning to side gigs. It's similar to being their own boss. Although there have always been flaws in the corporate sector, many young people aren't content to accept that. They are advocating for change and focusing more on their side projects, some of which they initiated during the pandemic shutdowns. As the world opens up for the gig economy, policy changes as well as new hiring practices are also expected to follow suite.

MORE ON MARKET REALIST
The sharks did not expect the product to taste as good as it did, considering what it was made from.
4 hours ago
The designer was also commissioned by top brands and worked for the royal family.
5 hours ago
The host had a look of bewilderment on his face which was absolutely hilarious.
6 hours ago
Things did not seem to be going well for the entrepreneur due to her high energy.
9 hours ago
The guest might have had high expectations, but they were quickly brought down to earth.
10 hours ago
The contestant was unable to contain her excitement and hugged the model.
1 day ago
Two of the players got it right, and while the player who lost didn't mind, fans were not satisfied.
1 day ago
Lisa celebrated her birthday in style with a perfect two-card guess to win the big prize.
1 day ago
Rick Harrison did what he could to console the guest who said that he had lost faith in NASCAR.
1 day ago
Both the guest and the expert were fascinated by how well the automaton worked.
2 days ago
One of the entrepreneurs broke down in tears, explaining all the struggles they had to go through.
2 days ago
She couldn’t believe it when her doll was appraised at a five-figure sum, and laughed in disbelief.
2 days ago
Ken Jennings truly has embraced "Jeopardy!" in every way possible at this point.
2 days ago
The comedian was impressed by the simplicity of the product and amused by the pitch.
3 days ago
Harrison usually makes smart deals on the show, but this vintage car buy turned into a costly mistake.
3 days ago
Had she started the game in a better way, she might have won the five-figure prize money.
3 days ago
Barbara Corcoran made the exact same offer, and she wasn't happy about being rejected.
4 days ago
The guest believed that it was worth a modest amount of money, but that was clearly not the case.
4 days ago
With James Holzhauer in the lead, Amy Schneider and Andrew He decided to joke around.
4 days ago
Barbara Corcoran told the founders that she had never seen Greiner so passionate.
4 days ago