More side hustlers seek income to make ends meet

The number of side hustlers increased to an all-time high, exceeding 670,000 in the second quarter of this year. As real income declined due to high inflation and high interest rates, many office workers who find it hard to make ends meet by relying on their main jobs are taking on side jobs. With the growing prospect of the economy slowing in the second half of the year due to slow domestic demand, there are growing predictions that more people will seek side jobs.

The Dong-A Ilbo analyzed Microdata, which tracks economic activity census and run by Statistics Korea and found that the number of employed people who had a side job from April to June was 676,000 on average per month. This is the largest figure in any quarter since 2014 when statistics were compiled in Microdata. It increased by 8.2% from the previous highest in the second quarter of last year (625,000 people). The number of side hustlers was exceptionally high among young people (15 to 29 years old) and people in their 40s.

“The number of job seekers who wish to work side jobs or increase part-time working hours is increasing. They are trying to earn extra income because they don’t find the main source of their income sufficient, said Kim Yu-bin, head of the trend analysis department at the Korea Labor Institute. “Aside from the impact of rising prices and decrease in real income, worsening employment index in the second quarter may have also had an impact,” she said.

“The number of employed people who want to work more while working a side job or short-term is increasing. “Because my income is not enough, I am trying to earn additional income through a side job,” Kim said. “In addition to the impact of rising prices and a decrease in real income, the worsening employment index in the second quarter may have also had an impact.”


facthee@donga.com