The gig economy, often referred to as the “freelance” or “on-demand” economy, is a labour market characterised by short-term, flexible, and often project-based work arrangements. It’s a departure from the traditional 9-to-5 employment model and has gained substantial traction in recent years. Gig workers, commonly known as freelancers or independent contractors, offer their services to individuals or companies on a temporary or as-needed basis.
One of the remarkable aspects of the gig economy is its diversity. It encompasses a wide range of professions, from ride-sharing drivers and food delivery couriers to graphic designers and content writers. Gig work has not only transformed the way people earn a living but has also influenced economic dynamics in various ways.
Key Statistics on the UK Gig Economy
Before we delve deeper into the gig economy, let’s take a moment to explore some critical statistics from the UK, courtesy of standout-cv.com:
1 in 6 adults in the UK currently work a gig job at least once a week. This statistic highlights the widespread nature of gig work across the country.
Gig workers contribute £20 billion to the UK economy, equivalent to the aerospace industry’s impact. The gig economy’s economic significance is nothing short of remarkable.
Almost half (48%) of gig workers in the UK also have a full-time job. Many individuals are juggling multiple work arrangements to make ends meet.
Women earn an average of 10% less than men in the gig economy. Gender pay disparities are a concern in this evolving job landscape.
For most (71.5%), gig work makes up less than half of their income. Gig work often complements other income sources.
The UK gig economy workforce is now estimated at 7.25 million. This number reflects the gig economy’s substantial workforce.
89.7% of UK gig workers said that the cost of living crisis in 2022/23 had influenced them to take up extra work. Economic pressures are a driving factor for gig work.
More than 3 in 4 gig working taxi drivers and couriers increased their working hours into 2023 because of rising fuel costs. Economic factors continue to shape gig workers’ decisions.
A third of young people (18-34) returning to work post-pandemic did so in the gig economy. This demographic shift reflects the changing nature of work post-COVID-19.
These statistics provide a snapshot of the gig economy’s impact on the UK labor market and the broader society.
Flexystaff.com: Bridging the Gap
Flexystaff.com are playing a vital role in connecting freelancers with companies worldwide. Flexystaff.com acts as a bridge, offering an online marketplace where businesses can find skilled professionals for various tasks, projects, and roles. This platform provides flexibility and accessibility for both companies and gig workers.
Flexystaff.com aims to create a seamless experience for companies seeking freelance talent and individuals looking to leverage their skills. Companies can access a diverse talent pool, allowing them to adapt to changing demands quickly. On the other side, freelancers gain opportunities to showcase their expertise and access a broader range of projects and job opportunities.
The gig economy is reshaping the way we work and how businesses operate. As the workforce continues to evolve, platforms like flexystaff.com provide valuable solutions to connect talent with opportunity in this dynamic, on-demand job market.
In the next part of our exploration into the gig economy, where we’ll dive into the benefits and challenges that gig workers face, and how this shift in employment is shaping the future of work.
