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The Truth About Side Hustles: Is It Worth It?
Plus: Job Extinction? & Happiness Plummets
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Side Hustles: Worth It?
Balancing a side gig with job hunting. 💼
As recent grads enter a competitive job market, side hustles have become a popular way to gain experience and supplement income.
Side gigs offer flexibility and skill development relevant to career goals but come with challenges. Here are some thought starters:
• Financial Support: Side gigs can provide income during the job search.
• Skill Building: A side hustle can offer a chance to expand your portfolio and learn new skills.
• Time Management: However, balancing a side gig with job hunting can shift focus away from primary career goals.
While some side jobs may open doors to new career opportunities, they often come with trade-offs like burnout and less time for networking or applying for full-time roles. It’s important for young professionals to assess if a side hustle aligns with their long-term goals or if it’s just a temporary fix.
Key Considerations:
Ensure side gigs align with long-term career goals
Balance financial benefits against time and effort
Focus on activities that support long-term growth
Ultimately, choosing a side hustle should be based on clear priorities and its impact on both short-term needs and long-term career development.
Accounting Crisis Ahead
Fewer grads choosing accounting careers. 📊
Accounting, once a dependable path for job security, is now experiencing a steep decline in new professionals.
Recent grads are gravitating toward more dynamic and higher-paying finance roles. The American Institute of Certified Public Accountants has noted a decrease in students pursuing accounting degrees, with even fewer taking the CPA exam, leading to a shrinking talent pool despite ongoing demand, reports Business Insider.
This shortage is already affecting corporate America, as companies grapple with maintaining accurate financial reporting due to a lack of qualified accountants. The increased burden on existing professionals is causing delays and errors, which pose significant risks to businesses and investors.
To attract fresh talent, the industry is focusing on modernizing accounting education and enhancing compensation. Initiatives include making the profession more engaging and relevant, with some firms offering alternative certification pathways.
Without these efforts, the accountant shortage may continue to worsen, threatening the financial stability of businesses and the broader economy.
Happiness in Freefall
Young adults struggle with declining happiness. 📉
Happiness among America’s young adults is plummeting, and the reasons why remain contested.
This year, the U.S. fell from No. 15 to No. 23 in the World Happiness Report, its lowest ranking ever, with young people under 30 notably contributing to the decline, according to reporting by CNBC.
Mental health challenges like anxiety and depression have surged among recent grads, with some experts blaming social media for worsening loneliness and stress. Some argue that platforms like Instagram and TikTok amplify these feelings, particularly during the vulnerable adolescent years.
However, other researchers suggest that broader issues like economic uncertainty and institutional distrust play a more significant role in eroding young people’s happiness. These systemic pressures, they argue, are making it harder for young professionals to feel optimistic about their futures.
As recent grads step into the job market, understanding the complex factors behind this happiness decline could be crucial in navigating both personal and professional challenges ahead.