Do you have a side hustle? Unemployment is scarce, while gig work abounds.

The gig (market) is up ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

TODAY'S NEWS. TOMORROW'S INSIGHTS. A daily newsletter from McKinsey & Company   Edited by Katy McLaughlin   Senior Editor, Southern California Freelance nation The news • Not working 9 to 5. In spite of an unemployment rate that's at a 53-year low, workers are increasingly turning to independent work to help them ride out inflation and find the flexibility they need to deal with childcare—many of the newest temporary workers are single mothers. The lines between freelance work and steady employment are also blurring, as staffing agencies have begun serving restaurants and retailers to help them fill positions, even for just a few hours at a time. [NYT] • Do the hustle. More Americans are working more than one job: today, 40% have a side hustle, up from 34% two years ago. Supplemental work has long been viewed as a way to make extra cash or have extra fun, but there's another reason to work on the side: it's also a good way to develop new talents that can contribute to an employee's main line of work. Social-media sites, as well as websites specifically for freelancers, are good places to look for skill-polishing side gigs. [CNBC] Just over a quarter of respondents say they do independent work because they must. Another quarter say that they do this work because they enjoy it. Our insights • Workin' for a living. McKinsey's latest American Opportunity Survey (AOS) finds that independent work is booming. In the US, 36% of employed respondents—58 million people when extrapolated from the representative sample—identify as independent workers, up from 27% of the employed population in McKinsey's previous estimate in 2016. Nearly half of all immigrants report being independent workers, in addition to large numbers of young and lower-income people. • A hard day's night. Senior partners André Dua and Kweilin Ellingrud and colleagues' research reveals that independent workers face more challenges, including in accessing healthcare, nutritious food, and transportation, than permanent workers. Nonetheless, independent workers are remarkably more optimistic about economic opportunity than permanent workers. See McKinsey's data and analysis of this growing but understudied part of the US workforce. Lean into independent work Was this forwarded to you? Sign up here. Or send us feedback — we'd love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007