More than half of Americans are working more hours than six months ago due to the cost of living crisis, forcing many to pick up side hustles. The number of financially unhealthy consumers remains unchanged, with 70% feeling the cost of goods outpacing their incomes, leading to longer work hours.
Inflation increased by 2.9% year-over-year in August, with food prices up by 3.2%. Despite some products and services inflating faster, the overall financial situation hasn’t improved. Consumers are working longer hours to make ends meet, with 64% still vulnerable, overextended, or stressed about finances.
Younger Americans are taking on extra work, with one-third working a second job or side hustle. Those under 40 make up 45% of this group, driven by goals of boosting income, paying off debt, or saving. Economic challenges persist, leading many to focus on increasing income rather than cutting costs.
Read more at Yahoo Finance: More Than Half Of American Workers Are Putting In More Hours Than They Did Six Months Ago To Stabilize Their Finances
