COVID and the Gig Economy - By the Numbers - Small Business Trends

COVID and the Gig Economy – By the Numbers – Small Business Trends

Using flexibility and a much better life/work balance than standard jobs, the gig economy has been flourishing for a variety of years in the US.The global pandemic altered the way we worked, leading the way for greater gig work opportunities.Offering insight into the extent to which the Covid-19 pandemic transformed the gig economy is an infographic by Wage, providers of digital solutions for gig workers and business seeking to work with for gig jobs.Using numerous sources and data, the infographic demonstrates how the gig economy has grown, which nature of gig work remains in many need, the benefits of gigs, and the future of this type of work.For anyone believing about getting into gig work, or for little services wishing to start using this flexible working plan, the infographic deals valuable insight and information.Gig Economy Doubled in Size in 6 yearsIn 2020, the gig economy grew by 33%, broadening 8.25 x faster than the US economy as a whole. The very same year, 2 million Americans attempted gig work for the very first time, and 34% of the US workers are now included in the gig economy.Even before the pandemic struck, the gig economy was thriving, having actually doubled in size in the last six years.Increasing Demand for Delivery ServicesOne of the fastest-growing gig services is delivery, including ride-hailing, food and grocery shipment, retail item shipment, and running errands. With across the country lockdowns forbiding travel and dining establishments closed, shipment services became considerably more popular throughout the pandemic.Growth in the shipment services is forecast to continue and is expected to reach an overall value of ₤ 200 billion by 2025. Other major classifications of gig work include home services, such as construction, repair and moving, individual services like hair, babysitting and makeup and personal training, computer system services, including data entry and phone repair work, along with automobile, and occasion and entertainment.Benefits of Gig WorkThe infographic likewise explores the advantages of selecting this flexible kind of employment. Indicating a study that asked what people liked about a gig-type set-up, versatility came out as the leading benefit, with 74% of gig employees saying they love the greater flexibility it offers.70% of gig workers state they are paid more than generally paid peers, and 58% say they have a better quality of life, working less than 30 hours a week.Future of Gig WorkThe research study likewise looks at the future of gig work and how services prepare to use the versatile type of employment.4 in 5 services are intending on hiring more gig employees post-pandemic, with 50% stating they have currently done so.How to Break into the Gig EconomyThe infographic deals advice on the finest methods to get into the gig economy. Being proactive by looking for openings, building a profile, and attempting something brand-new, can be effective actions into securing gig work.As can asking for evaluations from consumers to acquire more work and going that additional mile to keep gig clients happy.Producing practically 6% of GDP in the United States, and with workers and companies citing the benefits, it appears like gig work is here to stay.This material was initially released here.


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