In an interview with Canada’s Global News, Moonlighting Founder & CEO Jeff Tennery discusses tips for making a side hustle work for anyone. This article was featured in the new Hot Jobs series that focuses on career strategy for a new era in work.
Canadians are not making much more money today than they did over a decade ago.
That much is obvious from the most recent Census, which showed median incomes growing by just under 11 per cent between 2005 and 2015.
There was clear growth, of course — but not nearly enough to keep up with the cost of living. While the Consumer Price Index (CPI) grew by just over 20 per cent in that time frame, the cost of housing alone across Canada jumped by almost 45 per cent in the past five years — much of the growth concentrated in the Vancouver area, though prices outpaced income growth right across the country.
As the cost of living outpaces wage growth, more people are working multiple jobs.
Labour Force Survey data shows that there were just over 863,000 Canadians holding multiple jobs in September 2008. That number had grown to more than 1 million by September of this year.
Whether it’s an extension of your full-time job, like being a marketer who manages someone’s social media profiles on the side, or something totally unrelated like driving an Uber a few hours each week, a few extra hours a week could add the cushion your bank account needs.
Sluggish incomes are but one reason why many people are turning to additional work in the gig economy, Jeff Tennery, the CEO of Moonlighting, a company that links freelancers with potential clients, and that will soon begin operating in Canada, told Global News.
“If you look at the last two decades of wage growth, it’s been very stagnant,” he said.
“From 1996 through the last 22 years, you’re talking about a wage growth that has not even stayed anywhere near on par with things like education bills, fuel bills, housing, food.”
But a lack of pay growth isn’t the only reason why people turn to side jobs…
Read the full article on globalnews.ca