At a time of financial uncertainty, economic instability, and as some big tech companies force their employees back into the office or risk losing their jobs, self-proclaimed entrepreneurs are rethinking their careers and are turning creative passions and pursuits into full-time jobs.
Society is undergoing a transformation in the way people think about and approach their careers. As a result of the worldwide adoption of work from home lifestyles, and as people lost their jobs due to pandemic-related cutbacks and redundancies, many have found a way to turn their side hustles and passions into full-time gigs.
In America, 40% of people have a side hustle up from 34% in 2020, and more than 1 in 3 Americans have a side hustle or plan to start one in 2022 compared to the 1 in 4 Americans that said the same thing in 2021. Younger adults are leading the charge in the side hustle revolution, with 59% of Gen Z and 61% of Gen Y currently having a side hustle.
Coined as a new golden age of entrepreneurialism, the rise of hobbies and passions becoming full-time jobs is giving people career autonomy and a sense of independence. As workplace culture changes and traditional career paths fall out of fashion, people are finding creative ways to restore their work-life balance and embrace the changing nature of work.