As we move towards the end of 2022 companies are feeling financial pressure and beginning to lay off full-time employees. So can we expect to see more use of the freelance market in 2023?
The United States in particular is famous for its gig economy and the opportunities and platforms it offers. In December 2021, 4.2 million people voluntarily left their jobs, with 44% expressing little to no interest in taking up traditional employment in the ensuing six months. As a result, 70.4 million Americans, or 44% of the American workforce, are now freelancers in the expanding gig economy.
Online gig platforms are usually the go-to when seeking freelancing work, with a reported 16% of Americans admitting they have earned money using an online gig platform. And through these platforms, 20% of full-time independent contractors with U.S. bases were able to do business with clients abroad. Although one of the largest markets and customer bases for gig labour is in the US, gig employment is well-liked worldwide. Platforms for sharing assets, such as Airbnb, and ride-sharing services like Uber account for 88% of the gross volume of the global gig economy.
Credit Summit, a website dedicated to exploring financial products that can help individuals get out of poverty, has produced a concise article drawing on resources such as the US Bureau of Labour Statistics, Gallup and Pew Research to show what is happening in the gig economy now. Check out the main facts in our visualisation below and you can read more here.
