The so-called gig economy is not a new phenomenon but the digital revolution has certainly made it a lot more popular. Rather than working for one company full-time, gig workers are independent, mobile workers. Some are freelancers in one specific area while others provide different services or are on-call workers in more than one industry.
Short-term, flexible work is now easier than ever because of online platforms and apps. Millions of people in the UK and Europe are gig workers to complement their main income or to earn money while in between jobs.
What exactly is the gig economy?
The modern gig economy is a system that allows independent workers to complete short-term jobs. In its essence, a gig is a transient job – often a one-time thing and sometimes a recurrent (but still short-term) assignment.
Freelancers, independent contractors, consultants and temporary workers can all be considered part of the gig economy. But so can online sellers on sites like Etsy and eBay, Uber drivers, part-time and seasonal workers, and many others.
The gig economy includes people of all skill and income levels. Some gig workers are highly skilled while others are unskilled and do manual work.
Is the gig economy popular?
A study by the Department for Business, Energy and Industrial Strategy found that more than 4% of the UK population had participated in the gig economy in the previous 12 months. While this might not seem like much, it adds up to about 2.8 million people in the UK. Of those people, most pursue gigs as an extra source of income on top of their regular jobs.
The study also showed that the younger generation is more likely to engage in the gig economy. Of those involved in the study, 56% were between the ages of 18 and 34.
While gig workers engaged in many activities, the most common service provided was related to courier services (42%), followed by online work (37%), transport services (28%) and food delivery (21%).
What are the advantages of the gig economy?
Most people (53%) involved in the gig economy are satisfied with it. Independence and flexibility are key reasons why people love working this way and why it’s so popular.
Even when earnings aren’t substantial, gigs provide the option to earn extra money on weekends, evenings or around a full-time job. And since there aren’t fixed hours or commitments, it’s always possible to work more or less depending on time or financial goals.
Gigs work has proven to be a good choice during COVID times. With many gig platforms available online, you can find ways to earn money without leaving your home. There are work-from-home opportunities for data entry and many other options to stay safe while earning.
Should you give it a try?
Curious to find out whether gigs are for you? The easiest way to get started is to give side hustles a try. Try selling things through eBay or online marketplaces. You can start with things you have at home and no longer use. You can even try English tutoring online through platforms like italki.
