Latest news with #Zety
Yahoo
3 days ago
- Business
- Yahoo
38% of Americans have taken on jobs to cover debts — how the rise of the reluctant hustler is rewiring careers
With consumer household debt hitting record highs, more Americans are picking up extra work to cover bills and becoming reluctant hustlers. A new survey from AI-powered career platform Zety found that 38% of respondents have taken on side gigs or second jobs to make extra money and keep up with their debt. The online poll of 1,005 U.S. employees was conducted by Pollfish. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Not one respondent reported being debt-free. In fact, 43% said they're carrying more than $25,000 in debt, and one in five said they owe at least $100,000. That's why some Americans are 'taking on side jobs for extra cash, accepting roles they don't want, and making urgent trade-offs to manage their financial obligations in an increasingly volatile economy,' according to the report. The rise of the reluctant hustler This trend lines up with other data about the labour market. The number of Americans holding multiple jobs steadily increased from 2010 to 2020, according to the Federal Reserve Bank of St. Louis. After a dip during the pandemic, those numbers have bounced back to record levels. And this rise in side hustles isn't slowing down. A Harris Poll for the American Staffing Association (ASA) found that more than six in 10 employed U.S. adults say they're likely to pick up extra work in the next year.' 'For growing numbers of Americans, a side hustle can be a good way to build savings, pay off debt, find a new job, or change careers. However, for others, a side hustle means having enough money to make ends meet,' said Richard Wahlquist, CEO of ASA, in a release. 'With economic uncertainty dominating the headlines, it's not surprising to see Americans looking for ways to create some breathing room in their budgets.' Zety's survey also found that most respondents are shifting their financial habits to manage debt and prepare for potential fallout from U.S. policy changes. Nearly four in five (78%) believe tariffs will make it harder to repay or avoid debt. To cope, 38% said they've cut back on non-essential spending and 25% have increased their minimum payments. Others reported transferring balances (13%), delaying repayment (14%), consolidating debt (8%), refinancing (5%), seeking financial counseling (5%) or negotiating with lenders (4%). Meanwhile, U.S. consumer confidence continues to deteriorate across most age and income groups, according to The Conference Board's Consumer Confidence Index. And despite inflation cooling, real wages haven't seen much growth over the past decade. From May to June, real average hourly earnings dipped 0.1%, according to the Bureau of Labor Statistics. Stagnating wages and fears of rising costs from tariffs and trade disputes are putting added strain on American households. Read more: Americans are 'revenge saving' to survive — but millions only get a measly 1% on their savings. Debt is carving new career paths Student loans, medical bills and credit card debt are forcing many workers to take jobs outside their skill set, accept precarious roles or put their career ambitions on hold. Debt isn't just pushing Americans toward side hustles; it's also influencing work and career choices. A Harris Poll conducted for ASA in August 2024 found that 73% of American workers are in debt, and 40% of them said their debt is influencing their career choices. Roughly a third of Zety's respondents said they've taken jobs they didn't want or were outside of their industry to manage debt. Another 17% said they would start a business, return to school or freelance if they weren't carrying debt. 'Debt is a growing force behind why people take certain jobs, stay in roles longer than they'd like, or hesitate to make a career pivot,' Priya Rathod, a career trends expert at job site Indeed, told CNBC. And the pressure isn't likely to ease any time soon. Household debt remains at record highs, and debt service payments as a percent of disposable income are creeping back up from historic lows. But before jumping into a side hustle, it's worth taking a hard look at the math. According to the Federal Reserve, workers with multiple jobs put in 174 more hours a year than single-job workers, yet earn $1.01 less per hour on average. That adds up to just $900 more annually. 'People really need to understand that working more hours is a short-term solution, and growing your main income is a long-term strategy,' Rathod told CNBC. If your side hustle brings in good money, it might be worth the extra effort. But if it's low-paying or unstable, you may be better off focusing on your current job, asking for a raise, pursuing a promotion or even changing careers altogether. What to read next Robert Kiyosaki warns of 'massive unemployment' in the US due to the 'biggest change' in history — and says this 1 group of 'smart' Americans will get hit extra hard. Are you one of them? How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you'll need a substantial stash of savings in retirement Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Newsweek
5 days ago
- Entertainment
- Newsweek
Third of US Employees Have Had Workplace Romance With Manager: Study
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. What should have been a feel-good moment at a Coldplay concert this week turned into a viral spectacle after a "kiss cam" focused on a couple of canoodling-turned-panicked concertgoers. They were later revealed as a CEO and his company's head of human resources. But it appears they are not alone in having an office romance. A study found that 79 percent of American workers said they've had a long-term workplace romance—with around a third being involved with their supervisor or boss. Why It Matters The frequency of supervisor-employee relationships raises critical questions for workplace fairness, company culture and human resources. Recent viral incidents, including the widely shared footage of Astronomer CEO Andy Byron and Chief People Officer Kristin Cabot embracing at a Coldplay concert, have magnified public scrutiny of office romances—especially when they involve power dynamics. The "kiss-cam" incident highlighted the reputational risks for companies and employees when private moments become public fodder. What To Know The "Modern Workplace Romance Report" from Zety surveyed over 1,000 U.S. employees and found that 32 percent reported they had dated a boss or supervisor. Another 91 percent admitted to using flirting or charm to advance their career or gain professional favoritism. Meanwhile, a "Workplace Romance in America" report from Blind determined the personnel most likely to have a workplace romance. The survey of 8,784 employees found that human resources staff were the most likely to date at work, with 42 percent saying they had dated a coworker, followed by marketing and communication department staff at 39 percent and sales at 36 percent. CEOs were not among the top three. Andy Byron embracing Kristin Cabot before they realized they were being publicized on the kissing cam. Andy Byron embracing Kristin Cabot before they realized they were being publicized on the kissing cam. Grace Springer via Storyful/Grace Springer via Storyful The Zety study found that 86 percent of workers also believed remote work has made it easier to foster romantic connections at work. A majority of U.S. staff, 94 percent, believe emojis and GIFs help facilitate digital workplace flirting but they could be a double-edged sword, as 79 percent reported they had accidentally sent flirtatious messages to the wrong recipient. Despite the prevalence of romances, most employees now operate under explicit policies for workplace relationships with nearly all workers, 94 percent, saying their companies have such guidelines. However, the report also highlighted that policies do not always guarantee disclosure. A separate survey by Resume Genius earlier this year found that 72 percent of employees do not inform HR or management about workplace romances, even as 38 percent worry about the fallout if such relationships end. Who People Are Saying Toni Frana, career services manager at Zety, told Forbes magazine Friday, "Power imbalances can be more discreet in remote settings, increasing risks of favoritism and ethical issues. Transparency in relationships is crucial as inappropriate perks and favoritism can erode morale and breed distrust." Astronomer said in a statement Friday, "Astronomer is committed to the values and culture that have guided us since our founding. Our leaders are expected to set the standard in both conduct and accountability. The Board of Directors has initiated a formal investigation into this matter and we will have additional details to share very shortly." What Happens Next As remote work persists and digital communications become central to office life, employers must navigate the increasingly complex landscape of workplace relationships. Experts recommend ongoing education, transparent company policies, and a clear process for reporting and managing romances, especially those involving hierarchical power differences. Neither Byron nor Cabot have responded publicly to the incident. Whether they do so remains to be seen.
Yahoo
13-07-2025
- Business
- Yahoo
3 Ways Unsecured Debt Is Coming for Your Retirement
Are you envisioning a retirement filled with travel, relaxing days on your front porch or in your backyard oasis, and fun with the grandchildren? Credit card debt could be keeping you from fulfilling those dreams. A new survey from career resource website Zety found that almost half of Americans polled have more than $25,000 in unsecured debt, while 20% owe more than $100,000. High minimum monthly payments and mounting interest may force you to delay retirement, take on a second job or side gig, or scale back your spending now and in the future. Read Next: Learn More: Here's how some Americans are coping with debt and how it could affect their retirement plans. The survey showed that 38% of American workers have taken on second jobs or side gigs to cover their debt payments. If you were debt-free, that money could be going toward retirement savings instead. Without a solid plan to get out of debt, retirement could become a distant dream; you may even have to continue working two jobs instead of retiring. Be Aware: If you're passionate about your work, putting off retirement may not seem like a bad idea. In fact, data from Forbes showed that 32% of retirees wish they'd kept working longer. Holding a job or side gig after the age of 65 offers a sense of purpose and can contribute to overall well-being, along with physical and mental health, according to a new report from the University of Michigan's Institute for Healthcare Policy and Innovation. However, if you are stuck in a job you don't like or that doesn't offer flexibility to take time off for important healthcare appointments, it can negatively impact your health. The bottom line? Working an unfulfilling job in your 60s and 70s can have a negative effect on your overall health and well-being, especially if you feel forced to work to pay off debt. If that's your situation, you're not alone. A separate survey from Resume Builder found that, of the retired seniors polled who said they intend to go back to work in 2025, 34% are returning to the workforce to pay off debt. Maybe you have a solid 401(k) and other savings and will be able to retire as planned in your early-to-mid 60s. But credit card debt could force you to scale back spending in retirement to make ends meet. According to the Zety survey, 38% of those polled have 'cut non-essential spending' to make debt payments. If that trend continues into retirement, it could mean a choice between going back to work or finding ways to spend less. Either way, unsecured debt may force you to revise your retirement plans. More From GOBankingRates The New Retirement Problem Boomers Are Facing This article originally appeared on 3 Ways Unsecured Debt Is Coming for Your Retirement Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-07-2025
- Business
- Yahoo
Debt Has Dictated Job Choice For Some 37% Of People, According To Zety Survey
Some 37% of people have accepted a job they weren't otherwise interested in or that fell outside of their desired industry because it gave them a better opportunity to repay their debt, a survey from Zety found. According to the resume builder service, about half of Americans carry $25,000 in debt, and one in five carry over $100,000. These financial obligations are changing the way people think about and prioritize work. "Debt is a growing force behind why people take certain jobs, stay in roles longer than they'd like, or hesitate to make a career pivot," Indeed career trends expert Priya Rathod told CNBC. Don't Miss: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — Zety found that 38% of people had taken on extra work to help tackle their debt, and 17% of people felt trapped in their current positions, unable to pursue other dreams like starting a business or going back to school, because of their debt. "Their financial status is impacting not just them in terms of their work and their 9-to-5, but also those life goals," Zety Career Expert Jasmine Escalera told CNBC. Experts like Rathod told the outlet that when people pick up extra work, it's often because wages and cost of living, which includes debt repayment, aren't matching up. "It's driven by necessity," she said. However, not all 1,000 workers surveyed by Zety said that the cost of living outpacing wages was their only financial concern. A large portion said that current economic uncertainties were adding to their financial fears. Concerns over tariffs are the largest driver, with 78% saying they are worried that the levies will make it harder to repay or avoid debt in the future. Trending: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. When it comes to strategies to offset the impacts of tariffs on debt, 38% of those surveyed said that they had reduced non-essential spending. Another 25% had increased minimum payments in an attempt to get rid of the debt faster, while others were employing strategies like consolidating debt, transferring balances, and negotiating with lenders, among other options. Meanwhile, 34% of people have taken no specific action due to limited financial options. Many experts agree that taking on additional work can be a great short-term solution for tackling debt, but others warn that it shouldn't be your only plan of attack. "People really need to understand that working more hours is a short-term solution, and growing your main income is a long-term strategy," Rathod told CNBC. Asking for a raise, negotiating for parts of your compensation package, and applying for new roles with better wages and benefits are all preferred options, according to Rathod. However, if you are confident that a second job is the best option for you, she recommends choosing work that relies on skills you have already mastered and ensuring the additional hours do not interfere with your primary role. Read Next: $100k+ in investable assets? – no cost, no obligation. BlackRock is calling 2025 the year of alternative assets. Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Debt Has Dictated Job Choice For Some 37% Of People, According To Zety Survey originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-07-2025
- Business
- Yahoo
Debt Has Dictated Job Choice For Some 37% Of People, According To Zety Survey
Some 37% of people have accepted a job they weren't otherwise interested in or that fell outside of their desired industry because it gave them a better opportunity to repay their debt, a survey from Zety found. According to the resume builder service, about half of Americans carry $25,000 in debt, and one in five carry over $100,000. These financial obligations are changing the way people think about and prioritize work. "Debt is a growing force behind why people take certain jobs, stay in roles longer than they'd like, or hesitate to make a career pivot," Indeed career trends expert Priya Rathod told CNBC. Don't Miss: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — Zety found that 38% of people had taken on extra work to help tackle their debt, and 17% of people felt trapped in their current positions, unable to pursue other dreams like starting a business or going back to school, because of their debt. "Their financial status is impacting not just them in terms of their work and their 9-to-5, but also those life goals," Zety Career Expert Jasmine Escalera told CNBC. Experts like Rathod told the outlet that when people pick up extra work, it's often because wages and cost of living, which includes debt repayment, aren't matching up. "It's driven by necessity," she said. However, not all 1,000 workers surveyed by Zety said that the cost of living outpacing wages was their only financial concern. A large portion said that current economic uncertainties were adding to their financial fears. Concerns over tariffs are the largest driver, with 78% saying they are worried that the levies will make it harder to repay or avoid debt in the future. Trending: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. When it comes to strategies to offset the impacts of tariffs on debt, 38% of those surveyed said that they had reduced non-essential spending. Another 25% had increased minimum payments in an attempt to get rid of the debt faster, while others were employing strategies like consolidating debt, transferring balances, and negotiating with lenders, among other options. Meanwhile, 34% of people have taken no specific action due to limited financial options. Many experts agree that taking on additional work can be a great short-term solution for tackling debt, but others warn that it shouldn't be your only plan of attack. "People really need to understand that working more hours is a short-term solution, and growing your main income is a long-term strategy," Rathod told CNBC. Asking for a raise, negotiating for parts of your compensation package, and applying for new roles with better wages and benefits are all preferred options, according to Rathod. However, if you are confident that a second job is the best option for you, she recommends choosing work that relies on skills you have already mastered and ensuring the additional hours do not interfere with your primary role. Read Next: $100k+ in investable assets? – no cost, no obligation. BlackRock is calling 2025 the year of alternative assets. Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Debt Has Dictated Job Choice For Some 37% Of People, According To Zety Survey originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
