In past generations, employers were incentivized to hire high-potential applicants that lacked the specific skills they needed to become profitable. With the tariffs, AI, and other economic depressors, there are more candidates, many with the exact profile needed to hit the ground running. This means that entry-level workers are competing with those who were displaced, bringing their years of experience and willing to take a pay cut to avoid unemployment. Being forced to take on gig work, this further complicates their chances since survival jobs scream desperation to hiring managers and turn low-paying roles into quicksand, nearly impossible to rise and pivot.
Hi there. I'm the executive director of the Sound Money Defense League, as seen in Reuters, Washington Post, HuffPost, etc. For a decade I've tracked how fiat currency debasement has fueled the current state of the economy: where people are forced to juggle multiple jobs, Americans are under record credit card debt, and people are seemingly forced to work harder and for more hours to simply maintain the same standard of living. The Dollar has lost more than 97% of its value since 1913, eroding wages, savings, and forcing individuals into second and third jobs. The massive increase in the price of gold is a representation of how much value America's currency has lost, especially since the massive increase in government spending in response to COVID-19. This echoes 1970s stagflation but could be even deeper failures with $35T in debt; Constitutional sound money (i.e. gold and silver) reforms could stabilize it. Since 2014, dozens of states have enacted legislation removing taxes, regulations, and other disincentives to buying, selling, and using gold and silver as money. These policies are a response to policies by the Federal Reserve and Congress that are perpetually devaluing America's money. This is not an accident, it's literally the Federal Reserve's stated policy to devalue the currency by 2% every year. Happy to chat further about inflation, how Americans are being crushed as a result of intentional monetary policy choices, and what states are doing to mitigate the damage being done. Thank you, Jp Cortez Executive Director, Sound Money Defense League Jp.Cortez@soundmoneydefense.org
Hi there, My name is Chris Sorensen, CEO of PhoneBurner. More than happy to share a few thoughts here. While PhoneBurner is not a large employer, we have definitely noticed a shift where more young professionals we interact with, whether in sales, support, or marketing roles are balancing side gigs or part-time work in addition to their main job. From our internal hiring conversations and internal team feedback, I think it is clear that financial pressure and job market uncertainty are pushing a lot of younger workers into short term or gig based income while they look for opportunities that align with their degree or long term goals. A lot of young professionals I speak with at events, interviews, or during mentorship opportunities feel as though they are in "survival mode". I look at myself as an entrepreneur and I certainly understand that feeling or desire to pursue gig based income or short term positions to allow for scheduling availability so although my reasons for doing it were different, I do respect and have a great understanding for the younger generation who feels the need to do it to make ends meet. All in all, our team is staying more open minded around flexibility and job stability in the hiring process because we recognize that this is the reality for many early-career candidates right now. I think many employers should do the same. Chris,
I can observe the immediate effects of this tendency. Gig and retail earnings are almost impossible to use as a judgment of fragmented income to qualify someone to get a California mortgage, and lenders demand W-2 incomes that are stable and verifiable in order to offer a traditional loan to someone. It makes home owning even more unattainable to a whole generation. This is compulsory entrepreneurial training. Such graduates are training to juggle various sources of income, selling themselves, and hustling day in, day out. I have invested in real estate investors who have begun this fashion. They had also learned the layouts of neighborhoods in their time driving with Uber, and this knowledge provided them with an inarguable advantage in seeking deals.
I have seen the effects when young staff members are juggling several side hustles aside from their full time job. It may seem flexible but the mental demands carried over into their energy the next day which often shows up as slower mornings or sudden absences. Their productivity is also affected because they cannot focus on one task for a long time. We once had a staff member who's often distracted because of the demands of her online side hustle. She was averaging 40 sales calls a day until her online store took off. That difference costed us thousands of potential revenue. The side hustle seemed harmless at first but the hidden mental toll showed up later in because it wasn't sustainable.
Ground Level Observations As the owner of a real estate brokerage, I employ new graduates for a role which mainly concerns listing coordination and weekday viewings. Over the past year, I have witnessed the effort they have put into supplementing their income through food delivery and freelance design work. Some of my employees leave the office at 5 pm to do a virtual tutoring shift almost immediately. While the paycheck we offer is stable, it is far from enough to afford the rent of a major city, in addition to paying off student loans. Health insurance deductibles and commuting costs take a sizable toll. Even the most reliable employees avoid committing to long hours, as they have to make time for these side jobs to make ends meet. Organising open houses becomes infuriating when half of the staff is overloaded with the task of managing multiple complex schedules. Link to Global AI Rush This scramble links to the competition over supremacy in AI. States and large corporations invest in ML to get ahead in the next industrial revolution. That excitement diverts resources away from basic-level human tasks to automation. That stifles the real estate market where beginners used to have a reliable foothold. Fresh graduates now contend not just against peers but against software that creates leases, screens tenants, and performs basic marketing. The world is trying to build sophisticated machines while a workforce is juggling between jobs to survive.