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Why "side hustles" are on the rise

Why do so many Americans have "side hustles"?
Why do so many Americans have "side hustles"? 03:19

More people are learning the art of the "side hustle," taking on an extra job for money or experience. Even with unemployment at a 50-year-low, 43% of full-time employees say they have a job outside of their primary work, according to a Bankrate survey.

"I think this is really a shadow of the financial crisis. And think about this: During the financial crisis, a lot of young people had to go outside of their work, if they were lucky enough to have a job, to get some extra income. They pieced together work. But it has grown from the millennials who really started this, it has now expanded," CBS News business analyst Jill Schlesinger said Tuesday on "CBS This Morning."

Gen X-ers and Baby Boomers have also embraced side hustles, even after retirement, Schlesinger added, wanting control and an extra stream of income.  

Chris Guillebeau, author of "100 Side Hustles," told CBS News, "It's about what skill do I have that others could find valuable."

Schlesinger explained side hustles are different from gig jobs, like driving for Uber or Lyft. Gig work is "filling in the gap," while side hustles are "sort of like this magical benefit where it's great if it does translate into dollars, but you heard these people say I'm doing something I love. It's my passion and it's up and down the income stream, which is also fascinating."

While primary jobs may provide security, benefits and a steady paycheck, Schlesinger said side hustles can help channel creativity.

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