Business formations hit all-time high as ‘under-employed’ Americans turn to side hustles to make ends meet

It seems nobody’s coming to rescue American families from the affordability crisis, and as such, many are taking matters into their own hands with a stab at entrepreneurship.A new business formations report shows that March set a record, with 624,915 new companies registered in a single month. This is an all-time high, according to Registered Agents, the U.S.’s largest business formation services provider.Entrepreneurship momentum continued in April, marking 560,194 new formations—a 9% increase over the same month a year prior.

It comes as the wallets of everyday Americans remain strained. Inflation is sticky, with CPI reports continually coming in hotter than expected: In April, the all-items index increased 3.8% before seasonal adjustment. Pressure is coming from energy prices as tensions in the Middle East rumble on, choking global oil and gas supplies as a result.

This inflation is visible to consumers, as UBS’s Paul Donovan noted yesterday: “Since U.S. President Trump took office,........

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