Recent Gig Economy Statistics for This Year

The gig economy is a labour market that primarily centers around short-term and part-time contracts rather than long-term, full-time jobs. Many of the gig economy workers in the global workforce are millennials seeking extra income, of course, but there are people from all demographics involved as freelancers and independent contractors. Some of the most common gig economy jobs are:

• Food delivery
• Rideshare driver
• Pet sitter
• Personal shopper
• Virtual assistant
• Freelance writer

Though most people think of part-time workers earning extra money with companies like Lyft and Uber, the gig economy also contains skilled independent contractors, seasonal workers, and those who have work-from-home jobs. While these jobs were previously listed as side jobs, there are a growing number of workers who now undertake this kind of independent work as their primary source of income. Unlike traditional employment, this type of work does not always require a traditional CV. In some cases, a portfolio may be more useful.

Here are some key statistics about the global gig economy and gig workforce to consider:

• 31.36% of freelance workers report a decrease in demand for their skills and services
• Massage therapy was the highest paying type of work in the gig economy
• 71% of respondents listed flexibility as a key reason for being a part of the gig economy
• 39% of gig economy workers state that they have no retirement savings
• 33% of gig workers report that they would like to transition to being traditional employees
• 54% of government workers in the economy also have side gigs to make extra money
• 55% of baby boomers in the gig economy don’t have medical insurance
• The average gig economy worker lists 11 to 30 hours worked per week
• There are currently 57.3 million freelancers and small business owners
• Freelancers and gig economy workers are likely to be younger than non-freelancers with 38% of 8 to 35-year-olds self-reporting freelance work as being their primary source of income
  20% – 30% global workers report undertaking this type of work (gig, freelance, etc)
• Mature economies have a lower rate of workers using online platforms for gig work than developing economies. The rate is 3% to 10% of the workforce in mature economies and as much as 30% in developing economies.
• 1 in 5 full-time independent workers has international clients
• 37% of full-time freelancers are under the age of 40
  In 2018, 21% of full-time independents were classified as ‘high-earning’
• 71% of freelancers report that the share of work they gain from online platforms has risen over the last few years
• 24% of gig workers (worldwide) are based in or come from India
• India has emerged as the 3rd largest online labor market in the world today

As the labour statistics show, the gig economy is growing and has the potential to offer high earnings to those with the right skills. The gig economy is one of the largest and most complex labor markets right now, comprising people from all demographics and backgrounds. Fast-paced and ever-changing, it offers huge opportunities.

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