The gig economy continues to grow due to its offer of flexibility and independence for workers, and this trend does not show signs of slowing down. Statistics show that gig work will grow to have 60% of the U.S. workforce consist of independent workers by 2027.
"After leaving a job on Capitol Hill to start a nonprofit in 2015, I turned to Uber to cover basic financial needs," Caleb Paxton, a driver from Alexandria, Virginia, said about driving for the gig economy. "The ability to set my own schedule made it a good fit for balancing all of my professional demands."
It was estimated that 57.3 million people were freelance in the U.S. as of 2017, and with an assumed constant growth rate, Statista projected that by 2027 there will be 86.5 million freelancers.
"In 2021 I started driving again which allowed me to successfully lead a crowdfunding campaign on Indiegogo for Liberatus Volume One, our nonprofit’s first graphic editorial with a mission to inspire American unity," Paxton said. "The theme of this first volume is advocacy for refugees and the displaced because when we see ourselves in their stories we can understand nuance and paradox which is essential for good governance. Thanks to Uber for helping our team make it through this crowdfunding milestone!"
In 2019, approximately 57 million of the U.S. workforce were a part of the gig economy, which is more than one-third, or 36%, of the country's population, according to Forbes.
The gig economy increased by 33% in 2020 alone and the number grew twice in the last six years. This calculates to 8.25 times faster than the U.S. economy as a whole. In a survey, according to WAGE, 74% of the respondents said they love having greater flexibility, 70% confirmed they are paid more than their peers working traditional jobs and 58% reported having a better quality of life all while working less than 30 hours per week. Four of five companies also intend to hire more gig workers post-pandemic with 50% stating they have already done so.
According to Small Business Trends, by 2025, online platforms like LinkedIn and Uber could increase worldwide employment by 72 million, add $2.7 trillion to the global GDP and impact 10% of the global labor force through full-time employment or as supplemental income. Small Business Trends also reports that 60% of independent workers will make up 60% of the workforce by 2027.
If offered a full-time job, 75.7% of gig workers reported they would not leave gig work, according to PYMNTS.
According to MBO Partners, 59% of male gig workers and 74% of female gig workers say they enjoy working independently because of the flexibility this type of work offers. Freelance statistics show that the majority of independent workers aim to stay independent. Fifty-four percent of men and 43% of women earn more money working as freelancers.
In 2020, a survey by Bunny Studio revealed that of the 20% of Bunny Pro workers, 97% of freelance workers had planned for long-term gig work and 85% had been doing gig work for more than five years.