4 Side Gigs That Still Thrive Under High Inflation

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Many people picked up side gigs to make ends meet in the post-pandemic years, only to watch inflation rob them of their extra earnings and curtail their opportunities as their clients and customers scaled back on spending. With those lessons in mind, today’s side hustlers are looking for inflation-proof gigs that can withstand the financial storm if prices rise again.

While no industry is entirely immune, these side gigs stand the best chance of resisting inflation. 

Pet Services

According to the SPCA, nearly one in five households — 23 million of them — adopted an animal between 2020 and 2022 during the pandemic pet boom. One year later, in 2023, just as 40-year-high inflation was passing its peak, Entrepreneur reported several side hustles related to pet care were taking off despite the economic crisis. 

It didn’t matter that prices were rising faster than they had in four decades. Their tabbies, labs, rotties and ragdolls still had to be walked, fed and loved when they worked or went on vacation — and nothing has changed now that the oldest pandemic pets are turning five.

According to the industry publication Pet Food Processing, the entire industry is remarkably resistant to economic downturns, but higher-end pet services do best when prices rise. Here’s a look at the average hourly pay for the top pet-related side hustles, according to ZipRecruiter: 

• Dog walker: $17 
• Pet sitter: $14
• Pet groomer: $24

Handyperson Services

Also in 2023, The New York Times reported the cost of handyperson services was skyrocketing as inflation spun out of control. However, demand wasn’t slowing down because, similarly to pet services, necessity offers these professionals a hedge against inflation. Given enough time, peeling paint, leaky roofs, broken windows and shot appliances are inevitable in nearly every residential, religious, commercial or government property ever built. People can put off renovations when prices rise, but they can’t do the same for immediate repairs.    

A 2024 report from Verified Market Research projected projected the handyperson services industry to grow from $1.65 billion in 2024 to $3.3 billion in 2031 for a compound annual growth rate of 10%.

According to ZipRecruiter, the average independent handyperson earns $25 an hour. 

Medical Billing and Coding

According to the most recent data from the Centers for Medicare and Medicaid Services (CMS), the sprawling U.S. healthcare sector is a $4.9 trillion behemoth that accounts for nearly 18% of America’s GDP. Much of it is vulnerable to inflationary pressures. However, the keepers of the language that service providers use to communicate with insurers are generally exempt from those pressures. 

That’s because government agencies like CMS regulate standardized coding systems and procedures, and those rules don’t change with fluctuations in the cost of service, treatment and diagnosis. 

The side hustle requires an upfront investment in time and money. Required or preferred certifications can cost a few hundred dollars, complete certificate programs can cost a few thousand, and associate degrees can cost much more, according to BestColleges. However, many can get started with a three- to low-four-figure investment and a few months of training. 

ZipRecruiter cites the average annual pay for freelance medical billing and coding as $30 an hour.

Bookkeeping

Bookkeepers enjoy a relatively inflation-proof career because businesses of all sizes rely on their services no matter what they’re paying for raw materials, or labor or what they charge their customers for the products and services they provide — but you don’t have to do it full time to profit.

For example, Intuit alone is seeking applications for nearly a dozen remote freelance positions for side hustlers with bookkeeping and accounting skills. According to ZipRecruiter, the average freelance bookkeeper earns $25 an hour.

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