Game-Changing Gig Economy Statistics

According to the latest gig economy statistics, the gig economy is expanding three times faster than the overall workforce in the US. What is this new and increasingly popular method of employment?

The gig economy is a market with a focus on short-term job opportunities rather than permanent contracted work. Millennials are on the frontline of this shift in working culture, as they would rather land multiple freelance job opportunities than devoting their life to one company. As the gig economy fits perfectly with the millennial lifestyle, this comes as no surprise.

Gig workers use technological advancements to find new clients and offer their services. Countless online platforms act as intermediaries between freelancers and companies, and software like Zoom allows for seamless communication with clients. Online portfolios have become the new standard, and a new gig can be just a click away.

With enough freelance jobs per month, freelancers can support themselves while having enough time to organize their life in a way suitable for them. Digital nomads are a perfect example of those taking advantage of the gig economy while living their lives to the fullest. Even with offline jobs, the gig economy allows temporary workers to do what they love and achieve a better work-life balance.

Flexibility is another advantage that drives people towards the gig economy. They can choose the type of work they want to do, the clients, the platforms, and the location. If they’re more productive during the evening, they can easily find a gig that allows them to work during those hours. If they don’t like the client, they don’t have to accept the work. But most importantly, they can set their own rates and create the possibility for a much higher income. Some prices may be too high for specific clients, but finding the perfect client for those rates is easy in a large market.

The current state of the gig economy shows that it’s here to stay. Over 57.3 million workers in the US are already active in the gig market, and 29% of employees have additional jobs on the side. The global gig economy generates $204 billion in gross revenue every year. The statistics below show even more reasons why the gig economy is an excellent way of making money.

Infographic URL: https://teamstage.io/gig-economy-statistics/