Young Adults Turn to Side Hustles and Gig Work Amid High Costs, But Spending Still Lags

Young adults like Gen Zers and millennials are working multiple side hustles and gig jobs to make ends meet amid high costs.

Gig work has accelerated for Gen Zers and millennials since the pandemic, but their spending still lags behind baby boomers.

Wage growth slowing down in retail and restaurants may be pushing more young people to pick up gig work.

Young generations are more financially vulnerable due to early career stage, moving costs, rent, student loans.

Despite extra gig income, Gen Z/millennials are spending less, potentially saving more after pandemic money habits.