How The Global Pandemic Transformed The Gig Economy

How The Global Pandemic Transformed The Gig Economy
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In 2020, the gig economy grew 33% — expanding 8.25X faster than the U.S. economy as a whole

 

Gig Work By The Numbers

  • In the last 6 years, the gig economy has doubled in size
    • Over 1.1 billion gig workers worldwide — 55 million in the U.S.
    • In 2020, 2 million Americans tried gig work for the first time
  • By 2027, almost half of the US population will have engaged in gig work
  • The Monumental Effects Of COVID-19
    • During the pandemic, unemployment rose to 14.8%
      • 12% of the US workforce picked up gig work for the first time
  • 59% of freelancers saw a dip in income
    • 17% saw no payments from clients or contractors 
  • COVID-19 spurred the growing gig economy
    • The Growing Demand For Delivery Service
      • Delivery is one of the fastest-growing gig verticals
        • Expected to reach a total value of $200 billion by 2025
          • Growing at a rate of 10.3% each year
        • Full-time drivers make almost $50,000 a year
  • Why Delivery Services Became Popular
  • Country-wide lockdowns prevented travel
  • Concerns about the outbreak kept people indoors
  • Restaurants limited capacity or completely shut down
  • Gig Work Offers More Than Food Delivery
    • Ride-hailing (Uber, Lyft)
    • Food & groceries (DoorDash)
    • Retail products (Instacart)
    • Running errands (TaskRabbit)

 

34% of American workers are involved in the gig economy

 

Can The Gig Economy Provide A Living Wage?

  • The Nature Of Gig Work
  • What It Isn’t
        • Full-time employment
        • Obligatory labor
        • Industry-specific
  • What It Is
        • Flexible employment
        • Project-based work
        • Open to anyone at all times
  • The Benefits Of Gigs
    • Better Quality Of Life: 58% of gig workers work less than 30 hours a week
    • Higher Pay: Freelancers earn 70% more than traditionally-employed peers
    • Flexible Work Hours: 74% of freelancers chose gig work for greater flexibility
    • Available To All: High school grads earn as much as those with degrees

 

73% of American hiring managers are expecting to hire more gig workers post-pandemic

 

The Future Of Gig Work

    • 4 in 5 U.S. companies are planning to increase their use of gig workers
      • 50% of all organizations have already done so
    • 70% of gig workers find work through digital platforms
      • 65% believe a diverse clientele provides more job security than a full time job 
  • Gig Work Is Here To Stay
    • Gig work produces almost 6% of the American GDP
      • At least seven major categories
        • Home Services
          • Construction
          • Repair
          • Moving
        • Personal Services
          • Babysitting
          • Hair & Makeup
          • Personal Training
        • Computer Services
          • Data Entry
          • Phone Repair
          • Remote Work
        • Animal Care
          • Dog Walking
          • Pet Sitting
          • Bathing & Grooming
        • Event & Entertainment
          • Music & DJs
          • Bartending
          • Photography & Videography
        • Automotive
          • Detailing
          • Delivery
          • Repair
        • General Labor
          • Yard Work
          • Maintenance
          • Other Tasks
    • Freelance will play an enormous role in post-pandemic recovery

 

By 2027, more than 86.5 million Americans will enter the gig economy

 

How To Break Into The Gig Economy

  • Look For Openings
  • Ask friends which services are popular in your area
  • Check online job boards that specialize in gigs
      • Search the App Store or Google Play for the right app
  • Build Your Profile
      • Create a short bio with a professional photo
      • Provide details about your work experience
      • Verify your identity with certificate and authentication
    • Try Something New 
      • Select a wide range of services and jobs you can provide
      • Accept varied tasks to test your talents and gain experience
      • From skilled work to manual labor, it is all available
  • Do Your Best
      • Go the extra mile in all your work
      • Be warm and friendly with your gig clients
      • Dress professionally, arrive clean and tidy
  • Ask For Reviews
      • 92% of people trust word-of-mouth more than ads
      • Good ratings and reviews will help you find more gigs
      • Post photos of your work and completed projects
    • Practice Safe Habits
      • Use gig apps that offer ID verification and reviews
      • Use in-app chats to discuss specifics for each gig
  • Earn A Living Wage
    • Beware of each gig platform’s fees and take rates
    • Research platform policies before taking a gig

 

“A lot of really great people are increasingly looking for flexibility in their work, and a lot of them are finding it via the gig economy.” – Branden Beneschott, Cofounder & COO of Toptal

 

Wageapp Is An Easy Way To Try Out The Gig World

Call Out: Digital solutions for gig workers and those looking to hire

  • Pick up positions and services on demand
    • Wageapp offers trust-building features
      • ID verification
      • Reviews & star ratings
      • In-app chat
      • And more
  • Safe, easy, and fun work — Grow your skills in a low-risk environment
    • Try out a gig in our largest industries
      • Home Services
      • Personal Services
      • Business & Remote Work
      • Animal Care
      • Events & Entertainment
      • Automotive 
      • General Labor

Looking for a gig or need to hire help? Download Wage app on the App Store and Google Play

Sources:

https://www.npr.org/2020/09/16/912744566/jobs-in-the-pandemic-more-are-freelance-and-may-stay-that-way-forever 

https://www.hellobonsai.com/covid-19-study 

https://www.indeed.com/career-advice/finding-a-job/best-paying-delivery-jobs 

https://www.forbes.com/sites/sarwantsingh/2019/09/09/the-soon-to-be-200b-online-food-delivery-is-rapidly-changing-the-global-food-industry/?sh=4a0837ddb1bc 

https://www.globenewswire.com/news-release/2021/04/27/2217586/0/en/Online-Food-Delivery-Services-Global-Market-Report-2021-COVID-19-Growth-And-Change-To-2030.html 

https://www.simplilearn.com/growing-demand-for-freelance-work-article 

https://www.statista.com/statistics/921593/gig-economy-number-of-freelancers-us/ 

https://www.forbes.com/sites/rebeccahenderson/2020/12/10/how-covid-19-has-transformed-the-gig-economy/ 

https://www.smallbizgenius.net/by-the-numbers/gig-economy-statistics/#gref 

https://www.websiteplanet.com/blog/freelance-stats/ 

https://www.bls.gov/opub/ted/2020/unemployment-rate-rises-to-record-high-14-point-7-percent-in-april-2020 

https://goremotely.net/blog/gig-economy/ 

https://financesonline.com/number-of-freelancers-in-the-us/ 

https://www.cnbc.com/2019/10/03/skilled-freelancers-earn-more-per-hour-than-70percent-of-workers-in-us.html 

https://http-download.intuit.com/http.intuit/CMO/intuit/futureofsmallbusiness/intuit_2020_report.pdf 

https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/deloitte-2019-millennial-survey.pdf 

https://www.statista.com/statistics/921593/gig-economy-number-of-freelancers-us/ 

https://cloudblogs.microsoft.com/dynamics365/bdm/2014/08/08/infographic-2014-state-of-multichannel-customer-service/?_ga=2.237463360.1762289564.1624475874-565844002.1623513849 

https://www.bigcommerce.com/blog/word-of-mouth-marketing/#word-of-mouth-marketing-statistics 

http://www.adweek.com/digital/ogilvy-cannes-study-behold-the-power-of-word-of-mouth/?red=pr&_ga=2.231680479.1762289564.1624475874-565844002.1623513849 

https://www.forbes.com/sites/tjmccue/2018/08/31/57-million-u-s-workers-are-part-of-the-gig-economy/?sh=577a10657118 

https://ddiy.co/freelance-statistics/ 

https://www.freightwaves.com/news/covid-didnt-kill-gig-economy-the-pandemic-accelerated-it

https://www.bea.gov/news/2021/gross-domestic-product-4th-quarter-and-year-2020-advance-estimate

https://www.reuters.com/world/us/exclusive-us-labor-secretary-says-most-gig-workers-should-be-classified-2021-04-29/#:~:text=As%20many%20as%2055%20million,rise%20to%2043%25%20in%202020

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