The ‘gig’ economy is defined as a marketplace in which freelancers provide on-demand services, or ‘gigs’, for other individuals or companies. Hiring someone to do a voiceover on Fiverr, working as a translation specialist on Upwork or delivering a food order on Uber Eats; these are all gigs. The gig economy market is growing fast and is expected to be valued at $873 billion by 2027.
So why do people choose to work in the gig economy?
Pew Research Center surveyed gig platform workers on the major reasons why they joined these platforms. Their reasons included:
- Wanting to save up extra money
- To cover gaps/changes in income
- Better control over their work schedule
- To be your own boss
- For fun and to do something in their spare time
- Lack of job opportunities in their area