How Large Is The Gig Economy?
The Gig Economy Fueled By Contract Employers
After watching the second episode of the Darren Jacklin Show about turning obstacles into cashflow and passion into profit, it inspired me to create a report called “Make $100 Per Day” in the gig economy.
McKinsey Global Institute surveyed some 8,000 respondents across Europe and the United States about their income in the past 12 months—from primary work to any other income-generating activities.
The result of the report for the gig economy finds up to 162 million people in Europe and the United States—or 20 to 30 percent of the working-age population—engage in some form of independent work. Independent workers largely fit into four segments: 1) free agents, who actively choose independent work and derive their primary income from it; 2) casual earners, who use independent work for supplemental income and do so by choice; 3) reluctants, who make their primary living from independent work, but would prefer traditional jobs; and the 4) financially strapped who do supplemental work out of necessity.
The 2017 Freelancing in America study by the Freelancers Union and Upwork estimated that nearly 57.3 million Americans – or 36 percent of the nation’s workforce – are now freelancing, most of whom do so by choice (63 percent).
The rise in online intermediaries, such as Uber and TaskRabbit, have changed the way in which lower and middle-income millennials work. But research by economists Larry Katz of Harvard University and Alan Kreuger of Princeton University shows that the primary cause has been the increased use of contract employers — businesses that hire workers under contract.
Contract workers increased more than six fold — from 0.6 percent of workers in 2005 to 3.1 percent in 2015. That’s a far higher rate of increase than the growth in the fraction of workers employed as temporary help, on call workers or as independent contractors.
Professor Paul Oyer, Stanford: The Gig Economy: Threats and Opportunities for Workers and Employers
Cobbling A Living With Two or More Side Gigs
With a documented 95% accuracy rate, Faith Popcorn (original futurist) long ago predicted the demand for fresh foods, Cocooning for Millenials and the need for Freelancers in the gig economy to “cobble together a living”, such as temping, home services, art products to direct sales and more.
There are two requirements for our list: gigs must be simple to start and have online platforms with large audiences.
Here are some easy to start methods as side gigs with examples and links to check out:
- User Tester – 20 Minute Video Testing Per Site To Get Paid $10
- Service Provider – Cleaner, Handyman, Social Events From $20 to $50
- Artist – Emerging Art Market for Online Buyers Starting From $100
- Direct Sales Rep – Instant Pay 100% Commissions Via PayPal
These gigs were chosen as they each require minimum skills or new knowledge to start earning. They also leverage online platforms with large audiences so that helps with the marketing and promotions. They follow a proven system where others have already blazed trails. Finally, these can be side gigs on top of your main job or main contract to help you make extra income.