These 5 Side Hustles Are On Their Way Out In the Trump…

These 5 Side Hustles Are On Their Way Out In the Trump Economy

Side hustles are a popular way to make extra cash. According to a recent MarketWatch poll, 51% of Americans had a side hustle in 2024.

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But the industry is changing. What made for a lucrative side gig a few years ago might no longer be as profitable now.

Thanks to AI and recent changes to the economy, these side hustles could be on their way out.

Rideshare and Food Delivery Drivers

The cost of living has skyrocketed in recent years, which means many people have less money for rideshare and food delivery services like Uber and DoorDash.

Under the Trump Administration, there’s now a baseline tariff of 10% on nearly all imports. There’s also a 25% tariff on specific goods, including automobiles and parts.

The cost of vehicles is already on the rise, with the average new car going for $49,740. For side hustlers, this means more of their earnings could be going toward the very thing they need for a lucrative gig. Not only is there a monthly car payment, but there are other costs, like maintenance, repairs, insurance, gasoline and taxes.

According to Sam Demase, ZipRecruiter’s Career Expert, the rideshare and food delivery industry is also highly saturated, making for more competition and less demand. The current DoorDash driver earns about $17 to $24 an hour, as per Glassdoor. But to earn the same amount going forward, drivers may need to work extra hours, which isn’t always feasible.

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Social Media Managers and Web Developers

According to Glassdoor, the average hourly pay for freelance social media managers is $25 to $44. Freelance web developers earn between $35 to $55 on average. Pay includes base income and other earnings.

For more experienced individuals, this side gig is still lucrative. But for those just getting their foot in the door, it’s just not cutting it in the current economy.

The average pay for entry-level social media work is $26 an hour, as per ZipRecruiter. With tariffs on nearly all basic imported goods, that amount doesn’t go as far as it used to.

Take groceries as an example. Food at home prices are expected to rise by 3.3% by the end of this year, which is higher than the historical average. As many everyday groceries are sourced from other countries, including Mexico, which is subject to an additional 25% tariff, that could mean even higher food prices.

“We’re likely to see a dramatic shift in side hustles centered on entry-level web development and social media management,” said Dr. Kyle Elliott, a tech career coach. “Professionals and business owners who previously outsourced these tasks will increasingly rely on self-service platforms and tools.”

Elliott did note that, with the evolution of artificial intelligence, demand will likely increase for those more experienced in the field. But the tasks they handle may shift toward optimization, strategy and troubleshooting.

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Social Media Influencers

Some people who start with social media influencing as a side gig have turned it into a highly lucrative career. But as DeMase pointed out, the market has become crowded, which makes it harder to stand out and earn money.

There are also budgeting issues to consider.

“Some brands are starting to move away from influencer marketing and towards more targeted, consumer-first campaign strategies instead,” she said.

Higher tariffs, inflation and changes to tax law don’t just affect the consumer. They can hurt small business owners, too. As small businesses focus on more strategic marketing efforts, it could mean less money for sponsorships and other, more generalized influencer marketing campaigns.

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This article originally appeared on GOBankingRates.com: These 5 Side Hustles Are On Their Way Out In the Trump Economy

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