People can perform their work remotely.Ī recent online survey of working professionals revealed that about 30% of them would opt to quit their job if they must return to the office in the post-pandemic scenario. About 50 years ago, such a scenario was unimaginable, but the pandemic highlighted that work is no longer tied to office spaces. The internet made it possible to do your work and earn a living anywhere without requiring you to report physically to work. New digital technologies did not only alter the business landscape, but also reshaped how people do their work. You could assume that the rise of the gig economy is connected to the rise of the internet. They can usually spend several months in one location then move to another one. Since they are remote workers, they do their work not in office spaces, but instead in coffee shops, public libraries, in front of the beach or recreational vehicles. About 36% of them are doing freelance work for multiple companies. Digital nomads are individuals who use new technologies to do their work in a nomadic fashion. The dream job for many individuals today is working on their laptops while traveling the world. That is why more and more workers are enticed to join the gig economy. They no longer want to be stuck at an office desk for at least eight hours a day. More individuals are looking for work that offers flexibility, allowing them to select their schedule. Traditional employment has lost its luster. A 9-to-5 job is no longer the dream job of many workers, especially the younger generation. In my opinion, two factors significantly influence the growth of the gig economy. You might be wondering why numerous workers are shifting from traditional work to the gig economy. Related: Gig Economy Platforms Are Creating A New Class of Entrepreneurs The growth of the gig economy That is about six million more workers involved in the gig economy than in 2010. A CNBC report in February 2020 stated that the number of gig workers surged by 15% since 2010. In 2017, an estimated 55 million Americans were part of the gig economy, or 36% of the workforce. However, even before the pandemic, many Americans are already shifting to the gig economy. Consequently, many people turned to freelance or contract work to survive the financial crisis, which is happening again amidst the pandemic. It greatly affected many traditional businesses, which resulted in either their decline or completely altering the nature of their business. You can trace the rise of the gig economy to the global financial crisis in 20. The pandemic further amplified its popularity since the current health crisis disrupted many businesses and altered the course of many companies. Gig jobs might not be a new concept, but it has become popular among the younger generation over the years.

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