Side hustles are popular, with 51% of Americans having one in 2024. However, the industry is changing, as what was lucrative before might not be now, thanks to AI and economic shifts. The cost of living has risen, impacting services like Uber and DoorDash.

Under the Trump Administration, tariffs on imports have increased, affecting prices. The average new car costs $49,740, impacting side hustlers who rely on their vehicles for income. Rideshare and food delivery services face increased competition and lower demand.

Freelance social media managers earn $25 to $44 per hour, while web developers earn $35 to $55. Entry-level positions pay $26 per hour, but with tariffs and rising food prices, the money doesn’t go as far. Side hustles may shift towards web development and social media management.

With AI advancements, more experienced individuals in web development and social media may see increased demand. However, social media influencing is becoming crowded, making it harder to stand out. Brands are shifting towards targeted campaign strategies over influencer marketing.

Higher tariffs and inflation impact small business owners, leading to less money for sponsorships and influencer marketing. As the economy changes, side hustles are evolving, with potential shifts in demand for certain skills.

Read more at Yahoo Finance: These 5 Side Hustles Are On Their Way Out In the Trump Economy