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Gen Z and Millennials are Taking Second Jobs

gen z and millennials

According to a recent survey by McKinsey, a whopping 36 percent of employed Americans consider themselves independent workers. That's a significant increase from the 27 percent reported in 2016.

Independent work has become more popular for a few reasons... Layoffs and the high cost of living have also pushed more people into independent work as they struggle to find permanent employment or make ends meet with their current jobs. Some individuals independently work out of necessity to support their families, while others enjoy the freedom and flexibility it offers.

More interestingly, independent workers primarily are made up of Gen Z and Millennials. A recent report by Deloitte reveals that due to the financial strain caused by high living costs, 46% of Gen Z and 37% of millennials have taken on second jobs to boost their income.

Deloitte conducted a global survey of 22,000 individuals from these generations and found that half of each group now lives paycheck to paycheck, representing a 5-point increase since 2022. As the trend of pursuing secondary incomes continues to rise, HR departments are faced with the challenge of effectively addressing this issue while aligning with company policies

It's essential for employers and leaders to recognize the growing trend of independent work and consider how to support these workers. Independent workers play a crucial role in providing flexibility to businesses, and it's important to alleviate the barriers they face. By doing so, companies can benefit from a more diverse and resilient workforce.


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