Have you heard of the Gig Economy? Basically, it is the name for the millions of people that work individual jobs without having a static employer. The COVID-19 pandemic has removed some of the luster from gig work as companies look to cut back where they can. Let’s take a look at the new gig economy, and how it functions during a pandemic.
After the 2009 worldwide financial crisis, and with new mobile application services being developed that field individual contract work, the gig economy was born. Today, nearly 40 percent of the U.S. workforce, including many unskilled workers, work “gigs” to make ends meet. It provides more freedom than traditional employment, but also removes any security having a job provides.
The 57 million people that work gigs are largely considered the most satisfied workers there are. They set their own schedules, they take work when they want to work (or need money) and overall they have more control over their lives than traditional workers. But in economic recession, when gigs are less and less available, it can be a difficult time for gig workers. With corporate profit down by 25 percent this year, you can see that many people that worked as independent contractors are going to find it harder to make ends meet.
With the state of things, and with tens of millions of people out there looking for work, opportunities are limited; but I wouldn’t call them scarce. There are hundreds of millions of gigs out there. Today, we thought we’d provide a couple tips for the would-be gig workers out there to help them navigate through a pandemic-stricken gig economy.
Times are tough for most people, but gig workers really need to buckle down if they want to get through the pandemic without having to worry about where their next rent check will come from. Have you worked as a gig worker? What other suggestions would you give someone who is looking to make a living as a gig worker? Leave your words in the comments section below and check back next week for more great technology and business content.