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Economy

Workin’ 5 to 9: The Rise and Fall of Hustle Culture

Source: https://www.reveliolabs.com/news/macro/workin-5-to-9-the-rise-and-fall-of-hustle-culture/

When Dolly Parton spun her classic 9-to-5 into an ode to side hustles for Super Bowl commercials, it sparked controversy as to whether hustle culture is the new norm. But is this really a ‘whole new way to make a livin’? By looking at online profiles who list more than one concurrent position, we can track the rise and fall of hustle culture in the American economy:

Between 1990 and 2015, side hustles became increasingly prevalent. At the peak of hustle culture, 18% of workers had a secondary job. As conversations on work-life balance and mental health became more audible, this trend took a downward turn.

An important distinction to make in this context is between a secondary job necessary for a living wage, versus a passion project. Below are the companies with the highest shares of employees with side hustles, when their primary position earns above-median salaries:

And below are the companies with the highest shares of employees with side hustles, when their primary position earns below-median salaries.

Key Takeaways:

  • The share of American workers with a side hustle has steadily increased between 1990 and 2015. However, since 2015 we are observing the fall of hustle culture.
  • Google, Microsoft, and Amazon employees have some of the highest shares of side hustles for high-paying workers.
  • Starbucks, Subway, and McDonald’s employees are the ones most likely to hold another job, signaling that these companies are not giving the hours or pay their employees need.
  • Dolly Parton is the Queen of Country Music.

To learn more about the data behind this article and what Revelio Labs has to offer, visit https://www.reveliolabs.com/.

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Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.

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Consumer Edge Research

Consumer Edge Insight offers exclusive street-ready big-data products engineered for alpha generation by Data Science Teams & Portfolio Managers alike. CEI offers a number of alternative data products including CE Transact, our leading U.S. credit/debit card insight product (15M cards). CE Transact products provide aggregated revenue signal, deep fundamental cohort analysis and/or granular transaction-level data feeds with unparalleled metadata. Advantages: shortened latency (T+4), better panel representativeness (9M+ daily panel), and metadata integration such as demographics (at cardholder level). All data is cleaned with CEs Advanced Tagging System.