{"id":1791,"date":"2020-03-24T08:41:57","date_gmt":"2020-03-24T07:41:57","guid":{"rendered":"https:\/\/healthcareers.co\/?p=1791"},"modified":"2020-06-20T22:23:03","modified_gmt":"2020-06-20T21:23:03","slug":"gig-economy-statistics","status":"publish","type":"post","link":"https:\/\/healthcareers.co\/gig-economy-statistics\/","title":{"rendered":"31 Dynamic Gig Economy Statistics for a Secure Future"},"content":{"rendered":"
Advancement of technology is fueling economic globalization. This might sound scary, but the <\/span>gig economy statistics<\/span> inspire optimism when it comes to the future of work.\u00a0<\/span><\/p>\n And while leaping into the gig world may seem risky, figures show that an increasing number of people are throwing away their shirt and tie to transform themselves into cloud workers. With custom schedules and varied job opportunities, gig workers adopt a proactive lifestyle and pursue constant professional improvement and training.\u00a0<\/span><\/p>\n Furthermore, the global health crisis caused by the CoVid-19 pandemic devastated conventional job markets, urging people to go remotely.\u00a0<\/span><\/p>\n The following facts and figures will help you understand the \u201ccloud crowd\u201d and leave you with the dilemma of whether you should join them or not.\u00a0<\/span><\/p>\n (NCBI, SIA)<\/span><\/p>\n When it comes to being a <\/span>freelancer<\/span>, the <\/span>statistics<\/span> are favorable, and they show that the usage of online labor platforms is growing with an annual increase rate of 26%. <\/span><\/p>\n One research report from 2018 shows that the region of the Americas accounted for 65% of the total B2B human cloud spend in 2018.\u00a0<\/span><\/p>\n It\u2019s followed by the region of Europe, the Middle East, and Africa (EMEA), which spends around 21%, and the Asia-Pacific region (APAC), which accounted for 14% of the global B2B human cloud spending. <\/span><\/p>\n What\u2019s more, the report found that 18 countries were responsible for 90% of the global spend on temporary work agencies per type of contingent worker.<\/span><\/p>\n (SIA)<\/span><\/p>\n The <\/span>rise of the gig economy<\/span> resulted in $4.5 trillion in global spending, while $126.3 billion was spent on the human cloud. <\/span><\/p>\n This year, approximately $7.8 billion was spent on B2B human cloud transactions, while IT and creative job categories accounted for 75% of the amount.\u00a0<\/span><\/p>\n The majority of the human cloud spending was attributed to business-to-consumer (B2C) services such as Uber, Postmates, Lyft, or Instacart. <\/span><\/p>\n On the other hand, the B2B human cloud growth increased by 22% year-over-year, compared to the 19% growth rate in 2017.\u00a0<\/span><\/p>\n (Quartz India)<\/span><\/p>\n With a population of 1.3 billion and over 400 million millennials, it\u2019s no surprise that India is one of the biggest talent hubs, accounting for the largest global <\/span>freelance workforce<\/span>. <\/span><\/p>\n The Indian freelancers earn an average hourly rate of $18, which is less than the global average of $21 per hour.\u00a0<\/span><\/p>\n However, 2019 figures show that freelancers in India have revenue growth of 29% every year. Three out of four freelancers are younger than 35, and, according to Payoneer, only 20% of them are female. <\/span><\/p>\n Payoneer also reveals that 25% of the workers are offering web and graphic design, making it the most popular online gig in India, followed by IT services (20%), and programming (15%).<\/span><\/p>\n (CNBC)<\/span><\/p>\n Based on the annual revenue growth, the US is the most freelance-friendly country in the world, with one of the fastest-growing markets for freelance work. <\/span><\/p>\n The Global Gig-Economy Index survey, including more than 300,000 freelance workers, shows that 2019 was especially lucrative for American freelancers, with earnings going up by 78% on a year-by-year basis.\u00a0<\/span><\/p>\n The UK had the second-best score for the increase in earnings, where they went up for 59%, while Brazil was in third place with 48%. Furthermore, Asia, Pakistan, the Philippines, India, and Bangladesh had the best regional growth for the whole continent of 138%. Ukraine, Russia, and Serbia were also among the top 10 most prominent gig markets in 2019.<\/span><\/p>\n (The Balance SMB)<\/span><\/p>\n An online study conducted by Fit Small Business, which evaluated gig jobs according to their earnings and their <\/span>job growth<\/span><\/a> index, found that nine out of 10 best-paying jobs are in the IT and AI sectors. <\/span><\/p>\n Jobs in deep learning and artificial intelligence ranked at the top, with an average hourly rate of $115.06 per hour and over 8,000 deep learning jobs on LinkedIn. The second was blockchain architecture, with an hourly wage of $87.05, followed by robotics with an hourly rate of $77.46.<\/span><\/p>\n The best-paid jobs for freelancers included ethical hacking ($66.63), cryptocurrency jobs ($65.37), AWS Lambda coding ($51), VR ($50.18), ReactJS development ($40.75), Final Cut Pro editing ($37.12), and Instagram marketing ($31.23).<\/span><\/p>\n (Huron, Wired)<\/span><\/p>\n The World Health Organization (WHO) revealed that around 350,000 nurses quit their jobs due to burnout in 2013. <\/span><\/p>\n This is bad news for the US healthcare system as well, which counts the highest number of job openings, some of which you can <\/span>find here<\/span><\/a>.\u00a0<\/span><\/p>\n Statistics show that there\u2019s an estimated shortage of 200,000 nurses in the US and <\/span>rising demand for many healthcare job positions.<\/span><\/a><\/p>\n This is why UK officials are supporting the development of an app that can create flexible working solutions for nurses, and enable them to pick their own shifts to reduce burnout while improving the quality of service and <\/span>reducing their stress levels<\/span><\/a>.\u00a0<\/span><\/p>\n (BMO Wealth Management)<\/span><\/p>\n A BMO Wealth Management study concluded that the global economic crisis in 2008 affected greatly how the younger generations perceived independent work. <\/span><\/p>\n Back in 2010, the unemployment rate doubled, reaching 9.6%, opposed to 4.6% in 2007, and this was especially devastating for those aged 16\u201324 who experienced double the national <\/span>rate in unemployment<\/span><\/a>.\u00a0<\/span><\/p>\n Consequently, young workers adapted to non-permanent arrangements, and they discovered a new way of staying in control over their work engagements. <\/span><\/p>\n As more and more people gained a positive opinion about non-permanent work, the <\/span>number of freelancers in the world<\/span>, and in America, has risen significantly.\u00a0\u00a0<\/span><\/p>\n (JOEM, Forbes)\u00a0<\/span><\/p>\n As per BLS data, there are approximately 57 million gig workers in America, representing more than a third, or more precisely 36%, of the total US workforce. <\/span><\/p>\n Technological advancements influenced these figures greatly, which grew simultaneously with the number of <\/span>virtual workers of America<\/span> (7 million), as confirmed by these <\/span>remote work statistics<\/span><\/a>.<\/span><\/p>\n As per Gallup, 29% of the workers in America had a gig outside of their primary workplace, where 24% were full-time employees,and 49% worked part-time. <\/span><\/p>\n In contrast to the <\/span>independent workforce<\/span>, contingent workers have non-permanent contracts and benefits but work similarly to a regular employee, lacking autonomy.<\/span><\/p>\n (Upwork, MBO Partners)<\/span><\/p>\n Given the fact that more than one in three Americans engages in freelancing, this figure is not surprising. <\/span><\/p>\n The percent of declared full-time freelance workers reached 28% in 2019, adding $1.28 trillion to the national economy, or as much as the GDP of Spain. <\/span><\/p>\n The US gig workforce experienced a 7% rise for the 2014\u20132019 period. Meanwhile, the traditional workforce grew by only 2%.\u00a0<\/span><\/p>\n The <\/span>rise of the gig economy<\/span> is evident, and an increasing number of Americans (61%) are opting to freelance, in comparison with 53% in 2014, spending more than 1.07 billion hours of work per week since 2015.<\/span><\/p>\n (Randstad USA)<\/span><\/p>\n A 2016 research led by Randstad USA confirms that 68% of employees and 70% of employers believe the US workforce will be mainly employed on flexible agreements by 2025. <\/span><\/p>\n This study, including over 3,100 workers and 1,500 C-suite and human resources executives nationwide, found that 39% of workers were thinking of switching into an agile job arrangement in the next few years.\u00a0<\/span><\/p>\n 52% of the <\/span>interviewed C-suite executives<\/span><\/a> stated that their organization is willing to increase their dedication to building an agile workforce. <\/span><\/p>\n In contrast, almost seven in 10 workers believed that the future talented workforce would be mostly recruited via flexible agreements.<\/span><\/p>\n (UpWork, BLS)<\/span><\/p>\n Younger generations are more likely to enter the <\/span>gig market<\/span>. Following the UpWork report for 2019, as much as 53% of Generation Z workers are part of the <\/span>freelance workforce<\/span>. <\/span><\/p>\n The share of freelance workers from other generations was estimated at 40% for millennials, 31% for Gen Xers, and 29% for baby boomers.\u00a0<\/span><\/p>\n In addition to participating in the <\/span>independent workforce<\/span> of the gig economy, 27.5% of Americans aged 16\u201324 are contingent workers, as per BLS data for 2017. In comparison, only 11.8% of this age group have non-contingent job positions.<\/span><\/p>\n \u00a0(Randstad USA)<\/span><\/p>\n The appeal of the gig working style for the biggest part of the responders in a 2016 study, including over 3000 workers, was gaining control and the belief that there is a better chance for professional growth if one becomes a contingent worker.\u00a0<\/span><\/p>\n For a whopping 68% of the workers, the agile work plan corresponded better with their lifestyle. <\/span>63% thought that being engaged as an agile worker will increase their qualifications for other job positions, and 56% thought that they would earn more. Some 38% of the employees even considered that they\u2019d have better job security than being a permanent worker in a company.<\/span><\/p>\n (Upwork)<\/span><\/p>\n In order to remain marketable, gig workers are more likely than traditional workers to invest in skill training. <\/span><\/p>\n The Upwork 2019 report shows that more than half of the freelancers are not considering shifting back to traditional work and that they proactively work to keep their place in the global gig market.\u00a0<\/span><\/p>\n The training areas that the freelancers usually engage in coincide with the most sought after working skills in the digital gig economy, such as technology, IT, networking, and business management.<\/span><\/p>\nThe Top 10 <\/b>Gig Economy Statistics<\/b><\/h2>\n
\n
Gig Economy Statistics<\/b> Worldwide<\/b><\/h2>\n
\n1. Roughly 70 million people across the globe use online platforms to find remote work.\u00a0<\/b><\/h3>\n
2. In 2018, the worldwi<\/b>de <\/b>gig economy size<\/b> reached $4.5 trillion in spending.\u00a0<\/b><\/h3>\n
3. Accounting for almost one-quarter of its shares, India leads the <\/b>global gig economy, statistics<\/b> show.<\/b><\/h3>\n
4.<\/b> Global <\/b>freelance economy statistics<\/b> show that the US freelancers earn the most.\u00a0<\/b><\/h3>\n
5. With $115 an hour, AI developers were the highest-paid freelancers of the <\/b>gig economy, statistics<\/b> f<\/b>or<\/b> 2018<\/b> reveal.<\/b><\/h3>\n
6.<\/b> Nurses see a possible solution for their burnout in the <\/b>gig economy, statistics<\/b> for the <\/b>UK<\/b> reveal.\u00a0<\/b><\/h3>\n
Gig Economy Trends<\/b> in the US<\/b><\/h2>\n
\n7. The <\/b>rise of the gig economy<\/b> is linked to the global economic and financial crisis of 2008.<\/b><\/h3>\n
8. A <\/b>Gallup gig economy<\/b> survey shows that 36% of the American workforce takes part in the gig economy.<\/b><\/h3>\n
\u00a0<\/span>9. <\/b>Full-time employment statistics<\/b> for independent workers show that they accounted for $1.28 trillion to the US economy in 2018.<\/b><\/h3>\n
10. <\/b>Gig economy research<\/b> reveals that, in the past four years, the commitment of companies to build a flexible workforce has increased by 155%.\u00a0<\/b><\/h3>\n
11. 53% of freelancers are Gen Zers, <\/b>gig economy statistics<\/b> reveal.<\/b><\/h3>\n
12. 48% of freelancers state that faster career growth is one of the biggest <\/b>gig economy benefits<\/b> they experienced in the <\/b>gig market<\/b>.<\/b><\/h3>\n
13. <\/b>Gig economy statistics<\/b> reveal that 70% of full-time freelancers undertook 6 months of skills training in comparison to 49% of full-time non-freelancers.<\/b><\/h3>\n
14. Transportation, warehousing, and other services made for 60% of <\/b>the <\/b>gig economy growth<\/b> in the period 2012\u20132013.<\/b><\/h3>\n