Inflation has reached record levels and while there are signs it may be easing, prices on just about everything remain high. Undoubtedly, this is putting a strain on many families’ finances. In fact, the cost of living in London is now at its highest since the mid-1970s. According to the local council, average rent costs more than £400 per week. This is an increase of £60 per week over the last year. What’s more, the minimum wage hasn’t improved this situation, so people are struggling even more. This is the context in which the gig economy has emerged, providing people with additional income opportunities.
Remote Jobs Are the Answer
It’s well-established that the gig economy is expanding, with around 15 million American workers now relying on freelance work or temporary job opportunities to make ends meet. The trend has reached Europe too, but on a more limited basis. According to Eurostat, only 5.6% of Europeans work remotely, compared to 11.8% in the U.S. In general, the trend towards part-time work and temporary contracts is popular among both men and women in their 20s in the U.S., but among those aged 55+, the preference is for employees to stay within the company they’re employed by.
Although many people see this as a temporary measure, with the rise of the sharing economy, remote working could be the future of work. The trend towards greater job flexibility is evident across all age groups in the U.S., with more people able to work remotely than ever before. According to the labor bureau, around 42.2 million American workers now have access to some kind of digital or online work environment, which allows them to work remotely. This is almost a 27% increase from the previous year. Furthermore, 13.7 million of these workers are now completely flexible in regards to where and when they work.
Based on the data from the labor bureau, around 3.7 million American workers are now freelancers, with 2.2 million of these individuals working remotely. Furthermore, 1.9 million of these freelancers are completely flexible in regards to where and when they work. For those looking to enter the gig economy, the opportunities are endless. Even if you’re currently in full-time employment, you can start your own business or take on supplementary projects to earn additional money.
The Rise Of The ‘Micro-Worker’
Over the last few years, the gig economy has diversified, with many new forms of work emerging to fit the needs of various industries and the demands of the digital age. One of the most in-demand industries in the digital age is online marketplaces and e-commerce, where a high proportion of employees are now freelancers or operate as independent contractors rather than having a permanent job. For example, around 97% of Amazon’s warehouse employees in the U.S. are now contractors rather than permanent employees. This is certainly reflecting the trend towards part-time work and freelance opportunities available on the platform.
While many people see this as a negative trend, with workers being paid less and less while costs for employers go up, having a more independent workforce can be a positive for companies. Employees are less likely to be dissatisfied with their jobs, as there is often more flexibility around hours and location. It also means you can have a much greater degree of control over your own destiny. If you’ve got a dream job that fits within the gig economy, now might be the right time to pursue it.
Why Do People In The Gig Economy Like Working From Home?
One of the main attractions of the gig economy is its ability to function remotely. Even before the pandemic, remote working was growing rapidly in the U.S. According to the labor bureau, around 42.2 million American workers now have access to some kind of digital or online workspace, which allows them to work remotely. This is almost a 27% increase from the previous year. As a result, the desire to work remotely increased by 40% among American adults in 2019.
One of the best things about remote working is that it allows individuals to build a successful business while keeping their families together. The rise of teleworking has opened up many new opportunities for those looking to supplement their income, especially during the pandemic when many businesses have had to close down or become remote-only operations.
In fact, around 4.9 million American workers now earn their income solely online. This is a 74.7% increase from the previous year. Even more impressive is that this figure includes around 2.2 million independent contractors who are completely flexible in regards to where and when they work. This represents the fastest rise in popularity of any category in 2019.
Along with the increase in working remotely come the decreasing cost of high-speed Internet and tools like Chromebooks and Amazon’s Kindle, which make it easy for anyone to get started. When adjusted for cost of living, the average annual income from a full-time gig is now around £25,000, which is an increase of £3,600 since the previous year. This is more than enough to ensure a comfortable living for a middle-income family.
If you’ve got a specific skill or talent that you can contribute to the economy, whether it’s digital marketing, copywriting, or graphic design, now might be the right time to explore freelance work. Many big businesses are now looking for independent contractors to work from home as a marketing strategy during the pandemic. Not only is remote working great for those looking for additional income, but it could also be a way to make extra-curricular income during the school holidays or at the end of a working week.
The Future Of Work: Increasing Flexibility
One of the main attractions of the gig economy is its flexibility. With the increasing use of AI and robotics, businesses can now offer more flexible working hours and locations. Furthermore, as more and more businesses become reliant on remote working, the flexibility of those workplaces will increase. According to the labor bureau, around 42.2 million American workers now have access to some kind of digital or online workspace, which allows them to work remotely. This is almost a 27% increase from the previous year.
Even more impressive is the fact that this figure includes around 2.2 million independent contractors who are completely flexible in regards to where and when they work. This represents the fastest rise in popularity of any category in 2019.
Along with the increase in working remotely comes the increasing cost of high-speed Internet and tools like Chromebooks and Amazon’s Kindle, which make it easy for anyone to get started. When adjusted for the cost of living, the average annual income from a full-time gig is now around £25,000, which is an increase of £3,600 since the previous year. This is more than enough to ensure a comfortable living for a middle-income family.
If you’ve got a specific skill or talent that you can contribute to the economy, whether it’s digital marketing, copywriting, or graphic design, now might be the right time to explore freelance work. Many big businesses are now looking for independent contractors to work from home as a marketing strategy during the pandemic.
With more and more businesses turning to freelance work, remote working is becoming the new normal and people are better prepared to accommodate their working schedules to suit their needs. The gig economy is here to stay, and as more and more businesses realize the flexibility this provides, more and more people will become part of it.