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Gig Economy

PRESENTATION

By Riley & Chance

Objectives

  • Accepting Gig Work
  • Pros and Cons
  • Role of Supporting Local Businesses
  • Benefits to Community

Objectives

What is a Gig Economy?

About

Working in the gig economy means constantly being subjected to last-minute scheduling .

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Idea

Benefits of a Gig Economy

  • 74% of gig workers say, "gig work is the critical piece" to their financial security
  • More adaptable work
  • 78% say they expect to perform far more gig work in the upcoming year

Benefits

Cost Savings

Customer Engagements

Seasonal Help

Pros and Cons

Pros & Cons of a Gig Economy

Pros

Cons

  • No Proximity Hiring
  • Flexibility
  • Variable Pay
  • Variety of Jobs
  • No Benefits
  • Constantly Working
  • Little Leverage
  • Quarterly Taxes

Gross Domestic Product of Gig Economy

The CAGR (Compound Annual Growth Rate) Grows at 17.4% a Year

$296.7 Billion

$204 Billion

$401.4 Billion

Timeline

2018

2020

2022

2019

2021

$347.8 Billion

$248.3 Billion

Statistical Data

Growth

Apps

Popular Apps

Uber Eats

lyft

DOORDASH

instacart

fiverr

TaskRabbit

Top 10 Cities

#1 Denver

#3 Seattle

#2 Portland

#4 San Diego

#5 Nashville

#6 Atlanta

#7 Chicago

#8 Washington DC

#10 Los Angeles

#9 Boston

Resources

Resources

Addison, Rebecca. “How Businesses Can Benefit from the Gig Economy.” Guild Blog: Community Building Best Practices, Trends and Insights, Guild Blog: Community Building Best Practices, Trends and Insights, 30 July 2021, https://guild.co/blog/help-wanted-how-businesses-can-benefit-from-the-gig-economy/.

Atske, Sara. “The State of Gig Work in 2021.” Pew Research Center: Internet, Science & Tech, Pew Research Center, 8 Dec. 2021, https://www.pewresearch.org/internet/2021/12/08/the-state-of-gig-work-in-2021/.

Chang, Jenny. “40 Gig Economy Statistics You Must Learn: 2022 Market Share & Data Analysis.” Financesonline.com, FinancesOnline.com, 5 Nov. 2022, https://financesonline.com/gig-economy-statistics/.

“Is the Gig Economy the Future of Work.” SpreeWork, 1 Oct. 2019, https://spreework.com/is-the-gig-economy-the-future-of-work/.

Muro, Mark. “The Gig Economy: Complement or Cannibal?” Brookings, Brookings, 9 Mar. 2022, https://www.brookings.edu/blog/the-avenue/2016/11/17/the-gig-economy-complement-or-cannibal/.

Patrick Tuohey, Lindsey Zea. “How Cities Can Benefit from the Gig Economy, America's Fastest Growing Workforce Trend.” Better Cities Project, 21 Dec. 2021, https://better-cities.org/economic-prosperity/how-cities-can-benefit-from-the-gig-economy-americas-fastest-growing-workforce-trend/.

Staff, the Premerger Notification Office, and DPIP and CTO Staff. “FTC to Crack down on Companies Taking Advantage of Gig Workers.” Federal Trade Commission, 16 Sept. 2022, https://www.ftc.gov/news-events/news/press-releases/2022/09/ftc-crack-down-companies-taking-advantage-gig-workers.

Team, CFI. “Gig Economy.” Corporate Finance Institute, CFI, 8 Nov. 2022, https://corporatefinanceinstitute.com/resources/economics/gig-economy/.

Team, The Investopedia. “Gig Economy: Definition, Factors behind It, Critique & Gig Work.” Investopedia, Investopedia, 8 Oct. 2022, https://www.investopedia.com/terms/g/gig-economy.asp.

University, Western Governors. “The Pros and Cons of the Gig Economy.” Western Governors University, Western Governors University, 29 Jan. 2021, https://www.wgu.edu/blog/pros-and-cons-gig-economy1808.html.

“Workers in the Gig Economy Could Get Sick Leave and Holidays Pay.” LMA, https://www.lmarecruitment.com/blog/2017/08/workers-in-the-gig-economy-could-get-sick-leave-and-holidays-pay?source=google.com.

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