The gig economy has quietly reshaped how millions of people work and how we think about income. From driving and delivery to freelancing, opening an online shop, or offering popular services, short-term, flexible work is a major part of the modern economy. Despite this, many people don’t realize how significant and influential the gig economy has become. It can profoundly affect workers’ daily lives and finances. Behind big-name apps that help gig workers thrive, we find surprising facts and statistics about earnings, fees, growth, and working conditions. In this article, we’ll break down eight key facts about the gig economy that will help you better understand how it works and what it means to the many people who earn money outside their traditional 9-to-5.
8 Side Gig Facts
1. 56% of gig workers reported taking on gig work to supplement their primary source of income. (Source)
A lot of gig work doesn’t earn as much as a standard full-time income, but there are exceptions. Massage therapy is the highest-paying gig work.
2. 20% to 30% of working-age people in the U.S. and Europe do gig work. (Source)
The gig economy has grown a lot in the past ten years. There are millions of workers participating.
3. The side-gig apps Taskrabbit, Care.com, and Sittercity don’t charge transaction fees. (Source)
Many side-gig apps charge fees that are extracted from all their workers’ transactions. This can significantly affect the freelance worker’s ability to turn a profit.
4. Gig workers generally make less per hour than traditional W-2 employees. (Source)
Despite this, demand for independent contractors is on the rise! Part of the pay discrepancy is due to fewer working hours per week than traditional workers.
5. Out of all the benefits of gig work, freelancers appreciate flexibility the most. (Source)
Many gig workers are drawn to the appeal of flexible work hours and the ability to be their own boss.
6. In 2032, the gig work market is expected to reach $1,847 billion. (Source)
As of 2024, the market was valued at $556.7 billion and is projected to grow. Many people find that balancing income streams and working independently is the best way to live.
7. There are downsides to gig work. It may involve legal issues and workflow can be inconsistent. (Source)
Creative gig workers often have to fight to protect their right to work. Once it’s online, their work is often illegally used, and gig work creatives can’t always afford the legal fees to protect their work. The other problem is that gig work is inconsistent, which makes long-term financial planning more challenging.
8. The majority of gig workers take on gigs on a part-time basis. (Source)
Most gig workers reported working fewer than 10 hours per week, and many also reported working 10 to 30 hours on gigs.
Featured image photo credit: RDNE Stock project
