{"id":74,"date":"2023-01-21T11:56:09","date_gmt":"2023-01-21T11:56:09","guid":{"rendered":"https:\/\/www.gigscheck.com\/blog\/?p=74"},"modified":"2023-01-21T12:07:31","modified_gmt":"2023-01-21T12:07:31","slug":"how-gig-economy-benefits-modern-society","status":"publish","type":"post","link":"https:\/\/www.gigscheck.com\/blog\/how-gig-economy-benefits-modern-society\/","title":{"rendered":"How Gig Economy Benefits Modern Society?"},"content":{"rendered":"<p>In the United States, it is interesting to know that gig work shows impressive growth and demand, even after COVID-19 Pandemic has gone down.<\/p>\n<p><span data-preserver-spaces=\"true\">Due to the pandemic effect, the traditional employment model is gradually changing. More and more businesses and big brand companies are now more interested in hiring people on a contract basis.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">We are living in the new age of the \u2018gig economy,\u2019 and there are several people who already actively participate in the gig economy. They left behind the\u00a0<\/span><em><strong>bondage of 9-5 traditional employment<\/strong><\/em><span data-preserver-spaces=\"true\">\u00a0and joined the flexibility of the gig economy.<\/span><\/p>\n<p><strong>The rise of the gig economy in the US, 2023<\/strong><\/p>\n<ul>\n<li>At least <strong>59 million American adults<\/strong> participated in the gig economy over 2020, roughly to <strong>36% of the U.S. workforce<\/strong>.<\/li>\n<li><strong>16% of U.S adults<\/strong> have earned money through an online gig platform at some point in their lives, and <strong>9%<\/strong> earned income from online gig work in 2021.<\/li>\n<li>Wages and participation for gig workers <strong>grew by 33% in 2020<\/strong>.<\/li>\n<li>Gig workers contributed around <strong>$1.21 trillion to the U.S. economy<\/strong> in 2020, which is roughly <strong>7% of the total U.S. GDP.<\/strong><\/li>\n<li>By 2023, experts predict that <strong>52% of the American workforce<\/strong> will have spent some time participating in the gig economy.<\/li>\n<\/ul>\n<p>Data source: <a href=\"https:\/\/www.zippia.com\/advice\/gig-economy-statistics\/\">Zippia.com<\/a><\/p>\n<p>Let\u2019s learn more about the gig economy and how it benefits modern society.<\/p>\n<h2>What gig economy meaning?<\/h2>\n<p>Simply put, a gig economy is a modern approach to\u00a0<em><strong>a free and open market<\/strong><\/em><span data-preserver-spaces=\"true\">\u00a0system where the contracting the work and the independent workers providing the work participate.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The gig economy involves the labor exchange between businesses or companies and independent workers for short-term contracts or freelance work.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Gig workers are usually paid for completing their work, projects, or gigs. For instance, a delivery driver in the\u00a0<\/span><a href=\"https:\/\/www.uber.com\/us\/en\/deliver\/?_ga=2.257267211.1474403711.1674219884-439248153.1672405225\"><span data-preserver-spaces=\"true\">UberEats<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0gets paid for every daily food delivery.<\/span><\/p>\n<h2>What jobs are part of the gig economy?<\/h2>\n<p>There are many types of gig jobs available in the gig economy, but some popular categories are:<\/p>\n<ul>\n<li><strong>Freelancing:<\/strong><span data-preserver-spaces=\"true\">Freelancers who work for themselves without bonding with long-term employment contracts with companies or organizations. E.g.,\u00a0<\/span><a href=\"https:\/\/www.upwork.com\/freelance-jobs\/\"><span data-preserver-spaces=\"true\">Upwork<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0and\u00a0<\/span><a href=\"https:\/\/www.fiverr.com\/pages\/freelancers-not-work?utm_source=google&amp;utm_medium=cpc&amp;utm_campaign=g_ge-us_dv-desktop_cat-competitors_mt-bmm_sf-upwork&amp;utm_term=s_upwork_bmm&amp;utm_content=AdID%5e526458937621%5eKeyword%5e%2Bupwork%5ePlacement%5e%5eDevice%5ec&amp;caid=13435454142&amp;agid=126163241951&amp;ad_id=526458937621&amp;kw=%2Bupwork&amp;lpcat=&amp;show_join=true&amp;cq_src=google_ads&amp;cq_cmp=13435454142&amp;cq_term=%2Bupwork&amp;cq_plac=&amp;cq_net=g&amp;cq_plt=gp&amp;gclid=EAIaIQobChMIko3-_aDW_AIVpZVLBR1HVgRREAAYASAAEgKxEPD_BwE&amp;gclsrc=aw.ds\"><span data-preserver-spaces=\"true\">Fiverr<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Delivery Gigs:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Gig delivery drivers are like independent contractors enrolling with different delivery companies. Delivery apps like\u00a0<\/span><a href=\"https:\/\/dasher.doordash.com\/en-us\"><span data-preserver-spaces=\"true\">DoorDash<\/span><\/a><span data-preserver-spaces=\"true\">and\u00a0<\/span><a href=\"https:\/\/driver.grubhub.com\/\"><span data-preserver-spaces=\"true\">Shipt<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0provide work to such gig workers to transport various\u00a0<\/span>food and groceries<span data-preserver-spaces=\"true\">\u00a0to customers\u2019 doorstep.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Ridesharing Driver:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Due to the formation of various ridesharing apps like\u00a0<\/span><a href=\"https:\/\/www.uber.com\/us\/en\/drive\/\"><span data-preserver-spaces=\"true\">Uber<\/span><\/a><span data-preserver-spaces=\"true\">and\u00a0<\/span><a href=\"https:\/\/www.lyft.com\/driver\"><span data-preserver-spaces=\"true\">Lyft<\/span><\/a><span data-preserver-spaces=\"true\">, traditional taxi services provider are now switching to such mobile base platforms. Taxi drivers first need to enroll in\u00a0<\/span>ridesharing apps<span data-preserver-spaces=\"true\">, and using their mobile and vehicles must transport the passengers to their respective locations. On every successful ride completion, they earn a commission.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Independent Contractors:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Individuals who work for a business, company, or person are responsible for providing goods or services based on written or verbal contracts or agreements. Unlike traditional employees, independent workers are\u00a0<\/span>self-employed<span data-preserver-spaces=\"true\">\u00a0and earn money for every working hour.\u00a0<\/span><a href=\"https:\/\/flex.amazon.com\/\"><span data-preserver-spaces=\"true\">Amazon Flex<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0and\u00a0<\/span><a href=\"https:\/\/postmates.com\/\"><span data-preserver-spaces=\"true\">Postmates<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0are some examples of gig apps for independent contractors.<\/span><\/li>\n<\/ul>\n<blockquote><p><strong>#Get insight: <\/strong><a href=\"https:\/\/www.gigscheck.com\/blog\/best-same-day-pay-jobs\/\">Same Day Pay Jobs- 2023 (Get Paid ASAP)<\/a><\/p><\/blockquote>\n<h2>Top 5 biggest benefits of gig economy for modern society<\/h2>\n<p>With the fear of the Covid-19 pandemic and the coming economic recession<a href=\"https:\/\/www.cnbc.com\/2022\/12\/23\/why-everyone-thinks-a-recession-is-coming-in-2023.html\"><span data-preserver-spaces=\"true\">\u00a0in 2023<\/span><\/a><span data-preserver-spaces=\"true\">, several people were either unemployed or underemployed. Big companies like\u00a0<\/span><em><strong>Google<\/strong>,\u00a0<strong>Facebook<\/strong>,\u00a0<strong>and Twitter<\/strong><\/em><span data-preserver-spaces=\"true\"> continue to lay off their employees. <\/span><\/p>\n<blockquote><p><span data-preserver-spaces=\"true\">Did you know?<\/span> <a href=\"https:\/\/www.resumebuilder.com\/1-in-3-companies-anticipate-laying-off-30-or-more-of-workforce-in-2023\/\"><span data-preserver-spaces=\"true\">1 in 3 companies anticipate laying off 30% or more of the workforce in 2023.<\/span><\/a><\/p><\/blockquote>\n<p><span data-preserver-spaces=\"true\">As a result, the demand for temporary work is gradually increasing and expanding the \u2018gig economy.\u2019 Unlike traditional working, workers in the gig economy find new opportunities, working flexibility, and new ways to supplement their income.\u00a0\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Gig economy facilities the millennial generation of workers to balance their life and work demands. Anyone can access the gig apps and choose the work and income per their skills and wish.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Instability in the U.S. economy because of Covid-19 and Russia-Ukraine war increasing the demand for gig work and gig workers. It means\u00a0<\/span><strong><span data-preserver-spaces=\"true\"><em>the gig economy benefits<\/em>\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">businesses and modern society.<\/span><\/p>\n<p><strong>Here are five biggest benefits of gig economy benefits.<\/strong><\/p>\n<ul>\n<li><strong>Flexibility:\u00a0<\/strong><span data-preserver-spaces=\"true\">Unlike the 9-5 job culture, the gig economy provides enough flexibility for working hours. For example, it is up to you when to work and for how long.\u00a0<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Freedom:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Gig economy workers are self-employed, which means they are their bosses. They have complete freedom to choose work, projects, and clients of their own choice.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Easy to join:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">With the expansion of the gig economy, many gigs platform and jobs are easy to join and require minimal eligibility criteria.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Variety of projects:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Gig workers in the gig economy find a large variety of work compared to traditional employees working full-time for a single company. Gig workers can work for various businesses and companies at a time.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">No income barrier:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Based on your talent and working efficiency, gig workers may earn more compared to 9-5 employees. In the gig economy, the more you work, the more you earn. You can even generate income from multiple projects and clients, so you&#8217;ll still have a backup if you lose one.<\/span><\/li>\n<\/ul>\n<h2>What next for the gig economy?<\/h2>\n<p>With the current odd economic environment, global progress of new technology, and the rise of automation in various industries, it is sure that the gig economy will continue to grow and have the potential to replace the traditional labor markets.<\/p>\n<p>Companies and businesses gain more profit from the flexibility of the gig economy, but they should stop the harmful and sometimes life-threatening impacts on their gig workers. The government should endorse the gig economy by making good policies for gig workers.<\/p>\n<p>Whether it&#8217;s the <strong>Covid-19<\/strong> pandemic or the <strong>global recession<\/strong>, it is proved that the gig economy always stands for the betterment of society.<\/p>\n<p><strong>Can gig workers get a loan?<\/strong><\/p>\n<p>Did you know that there is a variety of\u00a0<a href=\"https:\/\/www.gigscheck.com\/\"><span data-preserver-spaces=\"true\">loans for gig workers<\/span><\/a><span data-preserver-spaces=\"true\">? Yes, some lenders accept income from the gig economy to approve a loan. You can apply for\u00a0<\/span><a href=\"https:\/\/www.gigscheck.com\/payday-loans-for-gig-workers.html\"><span data-preserver-spaces=\"true\">payday loans<\/span><\/a><span data-preserver-spaces=\"true\">, installment loans, credit union loans, title loans, and credit card cash advances.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the United States, it is interesting to know that gig work shows impressive growth and demand, even after COVID-19 Pandemic has gone down. Due to the pandemic effect, the traditional employment model is gradually changing. More and more businesses and big brand companies are now more interested in hiring people on a contract basis. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":84,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[16,18,17,15],"class_list":["post-74","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gig-economy","tag-do-gig-workers-get-benefits","tag-how-does-a-gig-economy-impact-on-employment-patterns","tag-how-does-economy-impact-society","tag-how-gig-economy-benefits-modern-society"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Gig Economy Benefits Modern Society?- GigsCheck<\/title>\n<meta name=\"description\" content=\"Why gig economy is important? What are the benefits of a gig economy? 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