The new trend at work: The Gig Economy

·         What is the gig economy?  In a gig economy, temporary, flexible jobs are commonplace and companies tend toward hiring independent contractors and freelancers instead of full-time employees.  Think of a band…they get gigs at various venues. They pop in, wow the crowd, get paid and move on.

·         When did this start?  It started with paper routes, dog walking and babysitting I guess, now we have apps for just about every ‘job’ that people don’t want to do or can’t do but with everything going digital and virtual, employers saw an opportunity to save money and gain a new labor segment with gig workers.  Technology has really enabled it though.

·         Who participates in the gig economy?  While about 27% of gig workers are millennials, that leaves a lot of other people of all generations contributing to this segment of the workforce.

·         What about stay at home parents?  Close to 70% of mothers with children under age 18 participate in the labor force. Many have chosen not to work full time, but have time to contribute, earn and keep their skills relevant.  With the desire for a parent to be present more and after tax salaries that sometimes cannot compete with the cost of having multiple children in childcare, gig jobs work well for stay at home parents.

·         Over 55% of gig workers possess at least a college degree, so there are many professional level roles available within the gig economy.

·         Globally About 30% of the global workforce are a part of the gig economy

Source: See the full interview at Daytime Web Staff