Nearly half of B.C. residents say they are taking on side hustles amid job and debt worries

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More than half of residents in British Columbia reported worrying about their job mobility and career opportunities, according to the latest MNP Consumer Debt Index, with 53 per cent saying they are concerned about future career prospects.

The report found 24 per cent of B.C. residents are worried that tariffs, trade disputes, or wider economic instability could negatively affect their job or income, while 31 per cent of working British Columbians reported similar concerns.

The index also said 20 per cent are concerned about AI’s impact on their careers, and 12 per cent are worried AI will make some of their skills less valuable. It further found 28 per cent of British Columbians are anxious about finding a new job that would offer similar pay and benefits.

Linda Paul, a Licensed Insolvency Trustee with MNP LTD in the Lower Mainland, said the career uncertainty is occurring when many British Columbians are already stressed by debt. She said, “Carrying debt can feel much more precarious for British Columbians when there is uncertainty about whether they could replace their income if their job situation changed,” adding that a “job loss, fewer hours, or a change in pay can quickly alter what a household can afford — particularly when there is limited room in the budget to absorb those impacts.”

The index reported that nearly four in 10 British Columbians are $200 or less away from financial insolvency each month, and 30 per cent said they are “not confident in their ability to cope with loss of employment or changes in wage or seasonal work without increasing their debt.”

Alongside those concerns, the report found that 49 per cent of British Columbians are trying to earn extra money. Of that group, 21 per cent said they are selling items online through platforms such as Facebook Marketplace, eBay, or Etsy, while 11 per cent reported making money through a hobby, skill, or passion project.

The index also found that 11 per cent are taking on freelance or contract work, and seven per cent have picked up a second job. It said 13 per cent have learned new skills to improve future job prospects.

Paul said many people are looking for additional ways to bring in income while considering how technologies like AI could affect their future opportunities, but added there is a difference between earning extra money to get ahead and depending on it to keep up. She said, “However, there is an important distinction between earning extra money to get ahead and depending on it to keep up. It may be worth looking at whether the overall debt load is actually manageable on their regular income if someone is taking on more work but their debt balances are not coming down.”