By Lucy Wyndham –
16 million Americans are working in the so-called gig economy, doing alternative work. This can be either as a side job, as temporary emergency work or as a result of prioritising flexibility. The gig economy can help to increase wealth by diversifying income streams, but it can also come with decreased job security and employee benefits. Below is a look into the market of three of the biggest jobs in the gig economy
Unlike traditional teaching, online tutoring in the gig economy does not require someone with any particular qualifications. Native English speakers are able to remotely tutor people across the world and make a little extra income. With an average hourly rate of $20, this can be a nice supplement to a traditional job, although tutors can earn more than $1000 an hour. This appeals to those looking for a digital nomad lifestyle who desire a career with limitless possibilities for progress. The tutor economy is flourishing among young graduates seeking experience, older people with skills to share and wealth creators aiming to multiply their income streams.
For people looking to make a regular income online, becoming a virtual assistant (VA) can be an exciting career choice. There are predicted to be 1.8 billion people using VAs by 2021, reflecting its great diversity. VAs could be working remotely and doing simple clerical tasks or performing higher level jobs such as digital marketing and social media campaigns. They earn an average of $25 an hour and can work both part time and flexibly, allowing the option to schedule VA work around the day job.
Another flourishing gig economy job is the online writing industry. Websites need content and they are willing to hire almost anyone with a decent grasp of written English to write it. This is a popular choice among creative people wishing to monetize their talent and requires no formal education. Pay can range from one US cent per word all the way up $100 for an article, giving an option to all levels of skill and experience.
The gig economy is set to boom as internet connectivity becomes faster and more widespread. Hiring part-time, online workers cuts costs for businesses and gives flexibility to workers. Beyond this, online tutoring, virtual assistance and digital content writing all provide space for workers to grow and increase wealth.
The Gig Labor Market – Nonemployer firms have grown by 2.6 percent a year, while payroll employment has grown by only 0.8 percent annually
For nearly two decades, the growth of nonemployer firms, or firms that have no employees and mostly constitute incorporated self-employed freelancers (workers in the “gig economy”), has consistently outpaced traditional payroll growth, as is visible here: Overall, nonemployer firms have grown by 2.6 percent a year, while payroll employment has grown by only 0.8 percent … Continue reading
The Gig Economy in UK – 4.4 per cent or 2.8 million people had worked in it in the last 12 months
The NatCen Panel, a probability-based online survey of 2,184 individuals in Britain, was used to provide a prevalence estimate of the number of people involved in the gig economy. The NatCen Panel found that 4.4 per cent of the population in Great Britain had worked in the gig economy in the last 12 months. This … Continue reading
Gig Labor Market – The Case of Uber
One of the major labor market issues affecting Uber drivers is occupational licensing. About one-quarter of the U.S. workforce must acquire a license from the government in order to work for pay (Bureau of Labor Statistics 2016). In some cities—New York, for example—ride-sharing without a taxi license is illegal. The requirements for licensure in New … Continue reading
The Gig Economy in US – About 1% of adults having tried one at some point
One of the most-hyped changes to the U.S. labor market has been “the rise of Uber and its ilk”—companies that use smartphone apps to connect workers to gig jobs. The most prominent example of this phenomenon is, of course, Uber, the ride-hailing service that allows people to summon drivers with an app and pay by the … Continue reading
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