As Americans try to save more money, these are the best jobs for those seeking extra income.With pay raises set to disappoint and almost 40% of Americans resolving to save more in 2023, some are looking for new ways to generate extra income with a side hustle.
Even as the US job market remains strong, so does inflation, leading some to seek more money. While Labor Department data shows that wages rose 4.6% in December compared to a year earlier, that still lags inflation, which rose 7.1% in November from last year. Labor force participation ticked up in December and the unemployment rate dropped to 3.5%, a five-decade low.
“Given rising interest rates, inflation and other rising costs, people are more inclined to sign up for a side gig to cover the increasing cost of living,” said Sinem Buber, lead economist at ZipRecruiter. Side hustles also become more common in strong labor markets — like the one we’re in now — when opportunities are plentiful, Buber said. Lining up a second part-time job may also provide a cushion in case layoffs spill over from big tech into the rest of the economy.
ZipRecruiter analyzed listings to identify jobs that can be done part-time with few or no starting requirements and ranked them by average hourly wages. Some popular side hustles like blogging or content creation didn’t make the list because they’re typically freelance and not listed on job sites.
These are the 10 most profitable side-gigs, according to ZipRecruiter:
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https://i.ibb.co/spfp7Qf/side-hustles-avg-pay.jpg1. Family assistantComing in at number one is “family assistant,” which usually involves some combination of cooking, cleaning, childcare, running errands, coordinating schedules and handling other household administrative tasks. Though many family assistants live with their employers and work full-time, part-time positions are available.
2. CraftsmanCraftsmen include specialists like carpenters, metal workers and glass blowers. Certificate programs, trade schools and community college offer training.
3. Sales specialistSales specialists work in a range of industries from tech to real estate to insurance. A sales representative reaches out to potential customers and manages those relationships.
4. Quality assurance reviewerQuality assurance reviewers monitor, inspect and test products to ensure the company’s standards are upheld. QA reviewers can work in a wide range of sectors like food safety, pharmaceuticals, manufacturing and software.
5. Care coordinatorCare coordinators oversee and monitor patient care, usually in hospitals or long-term patient care facilities. The job involves coordinating schedules, working with patients and their families and organizing documentation and medical records.
6. Event representativeEvent representatives organize special events for clients and help promote, set up and run the campaign. For example, event representatives could staff tradeshows or festivals, talking to potential customers and marketing products or services.
7. DriverMany types of companies need commercial drivers, including construction, health care and retail.
8. Customer serviceCustomer service representatives resolve complaints and help clients with technical issues over the phone or via email.
9. Nursing aideNursing assistants support health-care staff by administering medication and providing basic care in hospitals, rehabilitation centers, nursing homes and assisted living facilities.
10. Lead generatorCommonly known as telemarketers, lead generators reach out to prospective clients by phone, email and social media, answering questions about services and scheduling appointments.
https://www.bloomberg.com/news/articles/2023-01-06/10-best-side-hustles-in-2023-to-make-some-extra-money ....
Our recent slew of high job quitting statistics could correlate with uptrends in freelance work and side hustles.
While it is not mentioned which income bracket the majority of quit jobs fall into. It is entirely possible the largest segment of quit jobs occur at the minimum wage level.
There was a study published many years ago which could not determine how minimum wage earners pay their bills off of their income. With mandatory spending rising at fast rates. These negative trends could significantly have worsened. Which could define a trend whereby many quit their jobs as their salaries no longer allowed them to afford to cover basic bills.
It is known that many seeking help have high difficulty finding workers. Looking at the above chart where side hustle jobs with salaries as high as $20 can be had at an entry level with "few or no starting experience". Perhaps we begin to see why workers are abandoning minimum wage employment opportunities at high percentages.
While I don't think this illustrates the entire picture. There are perhaps a lot of things going on which are not being defined. Perhaps it is a step in the right direction.
