Are you thinking about diverging from full-time employees as an approach to staffing your business? You might want to think about turning to gig workers as a solution to the situation. Let’s take a look at some statistics that showcase the power of the gig economy.
Statistics about gig workers
- In 2021, the number of independent workers in the United States reached a total of approximately 58 million gig workers, which is a 31% increase from the number of gig workers in 2016.
- The United States is expected to see a total of 90.1 million U.S.-based freelance workers by 2028, which is a major increase compared to the 2023 total of 73.3 million freelancers.
- About 30% of those between the ages of 18 and 29 have explored gig-work platforms to make money.
- Approximately 50% of gig work involves editing, virtual assisting, consulting, and computer programming.
- According to 42% of all independent workers, automation would result in a better work-life balance, and 55% of gig workers state that AI will not impact their job prospects.
- If you asked independent contractors how pleased they are with their current jobs, about 76% of them would say they are very satisfied with their work, and 48% of them view the work they do as meaningful.
- About 38% of all gig workers work between 10 and 20 hours per week. Meanwhile, 32% of gig workers clock 20 to 30 hours weekly. Approximately 16% work anywhere from 30 to 40 hours, and 3% of gig workers log over 40 hours of work per week.
- The median income for gig workers is about $69,000 per year.
- As it currently stands, nearly 80% of companies are planning to hire more independent contractors in the near future.
The plusses and minuses of gig workers
A major drawback of gig work is that those who perform these jobs do not receive any employee benefits. However, as much of a downside as this may be, the lack of benefits clearly does not deter people from performing gig work.
Even more interesting is the fact that gig workers might even be eligible for benefits someday in the future. There have been ongoing debates as to whether or not gig workers — namely Uber and Lyft drivers — should be classified as employees instead of independent contractors.
While this is an ongoing conversation, it goes to show that gig workers are becoming a more integrated and recognized part of the job market. As a result, there is likely going to be some sort of compromise that results in limited protections for gig workers.
Not only that, but gig work is a quickly-growing means of making an income. Even employers are willing to rethink what it means to work, and many are turning their attention to gig workers as a way of mitigating the talent shortage.
All it takes is a little bit of creativity to reimagine how traditional work can be done differently. Employers should brainstorm which tasks can be outsourced to gig workers, and from there, they can craft job descriptions that appeal to talented individuals who are part of the gig economy.
