A recent report from Side Hustle Nation reveals that while many Americans pursue side gigs for extra income, only 5% of side hustlers reach earnings of $10K or more monthly. Most earn significantly less, with nearly half making between $101 and $500 monthly. Despite an average pay of $16 to $23 per hour for side hustlers, this is still lower than the overall private sector average of $36.06. Thus, while side hustles can provide flexible earning opportunities, the level of success varies greatly depending on skills and effort invested.
A side hustle can provide extra income but achieving significant earnings often requires specialized skills and an understanding of tax implications.
While only 5% of side hustlers earn $10K or more, many participants earn less, highlighting the varying success levels in side gigs.
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