Gig Economy and the Impact of COVID-19
COVID-19 has impacted the world. It has brought uncertainty, and it has changed the landscape of life and business. Most countries have seen their economies affected, in some cases, very severely. But, it is vital to highlight how coronavirus has impacted the gig- economy.
Some data about the gig economy
The gig economy has skyrocketed in the past few years. John McAfee said, “The gig economy is empowerment. This new business paradigm empowers individuals to better shape their own destiny and leverage their existing assets to their benefit.”
- There has been a 6-million people increment since 2010.
- 36% of US workers participate in the gig economy either through their primary or secondary job, making up to over one-third of the working population.
- About 90% of Americans would consider freelancing or independent contracting jobs.
- Similar studies show that 54% of gig workers don’t get benefits from their employers.
The gig economy brings a vast set of advantages:
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No employer controls you.
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You can set your work hours.
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You get the flexibility to do many jobs.
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It is excellent if you are a creative or an artist trying to make more money.
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It is great for extra income if your job doesn’t pay much.
But not everything is rosy, as:
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You don’t get a steady income.
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You usually won’t get benefits from your employers.
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With nobody to control you, it all depends on you.
The gig economy as it is now, it only gives you the illusion of controlling your time, and work hours, and income.
We need a new kind of economy: a new free economy.
The gig economy and the impact of COVID-19. What will happen next?
The gig economy and the impact of COVID-19 has been seen. Delivery riders and drivers have had a steadier job during the pandemic. Remote freelance jobs have acquired more value, as well.
The new challenges brought by COVID-19 will undoubtedly impact the freelance market. As the nation tries to recover from massive unemployment rates, the new normal may usher away from full-time jobs to side hustles and multiple gigs.
A CNN publication states that: “A lot of small businesses, even if they are squarely situated in the physical world, are going to see the digital channel as a source of resilience,” said Arun Sundararajan, a business professor at New York University and author of The Sharing Economy.
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