Musicians aren’t the only gig employees anymore. Millennials are changing the way they find work, and they seem to love it. The classical nine to five jobs might have to make space for the ever-increasing gig economy. People are replacing the old fashioned way of working at one company for your entire working life with multiple clients, various jobs, and the freedom to manage time more suitable to your wishes. Gig workers are on the rise.
The gig economy is booming due to new technologies. Finding temporary job opportunities is easier than ever before, with multiple platforms acting as intermediaries between the clients and freelancers. All it takes is a couple of clicks, an adequate profile with a portfolio to showcase your expertise, and countless job offers are up for grabs.
This type of employment provides increased freedom, fewer expenses, the comfort of your own home, and the ability to set rates that fit your needs. Companies are also benefiting from this shift in employment styles. Businesses can now scale their workforce up or down, depending on the seasonal demands. Plus, they don’t have to pay for additional costs of having employees in the office at all times.
According to the latest gig economy statistics, more than 50% of US workforce will participate in the gig economy by 2027. Since 76% of gig workers are happy with their career choice, and 82% are glad to work on their terms, this doesn’t come to much surprise. Almost a third of all workers (29%) make their primary income source from their alternative job.
Nevertheless, the gig economy isn’t perfect and needs to see some changes. The temporary employee’s position is not clearly defined yet, which means they don’t have any social benefits. Many gig workers keep their prices incredibly low to seem more appealing to employers, which results in earning less than minimum wage in some cases.
The statistics below provide a better insight into where the gig economy is heading. The way the gig economy operates today and the speed in which it expands shows for a bright future.
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