COVID and the gig economy – in numbers

The gig economy offers flexibility and a better work-life balance than “traditional” jobs and has been flourishing in the US for several years.

The global pandemic has changed the way we work and paved the way for bigger gig job opportunities.

An infographic from Wage, providers of digital solutions for gig workers and companies looking for gig jobs, offers an insight into the extent to which the Covid-19 pandemic has changed the gig economy.

Using multiple sources and data, the infographic shows how the gig economy has grown, what type of gig work is most in demand, the benefits of gigs, and the future of that type of work.

For anyone thinking about getting into gig work or for small businesses looking to take advantage of this flexible work regime, the infographic provides valuable insights and information.

Gig Economy doubled in 6 years

In 2020, the gig economy grew 33%, expanding 8.25 times faster than the US economy as a whole. That same year, 2 million Americans tried gig work for the first time, and 34% of US workers are now involved in the gig economy.

Even before the pandemic broke out, the gig economy was booming, and it had doubled in the past six years.

Growing demand for delivery services

One of the fastest growing gig services is delivery, including ridesharing, grocery delivery, retail product delivery, and errands. With statewide bans banning travel and restaurants closed, delivery services became significantly more popular during the pandemic.

The growth in delivery services is projected to continue, reaching a total value of £ 200 billion by 2025.

Other important categories of gig work include home services such as construction, repair, and moving, personal services such as babysitting, hair and makeup and personal training, computer services including data entry and phone repair, and automotive and event and entertainment services.

Benefits of gig work

The infographic also explores the benefits of this flexible form of employment. Recalling a survey that asked what people like about a gig-type setup, flexibility emerged as the top benefit: 74% of gig workers said they value the greater flexibility it offers offers.

70% of gig workers say they earn more than traditionally paid colleagues, and 58% say they have a better quality of life and work less than 30 hours a week.

Future of gig work

The research also looks at the future of gig work and how companies want to use the flexible form of employment.

4 out of 5 companies plan to hire more gig staff after the pandemic, with 50% already doing so.

How to get into the gig economy

The infographic offers advice on the best ways to get started in the gig economy. Being proactive by searching for jobs, creating a profile, and trying something new can be an effective step in securing gig work.

You can also ask for reviews from customers to get more work done and go the extra mile to keep gig customers happy.

With production close to 6% of GDP in the United States, and with workers and employers spearheading the benefits, it looks like gig work will stay here.

Image: Depositphotos

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