This is the best job market for American workers in my lifetime. The unemployment rate is very low at only 3.7%. There are more than 11 million job openings. And wages are rising at their fastest pace ever due to inflation. Amid this backdrop, as many as 88% of people recently polled would actually consider doing gig work over traditional full-time employment until they retire. My gig-work staffing company GravyWork, has seen more talent coming onto our platform, rebounding nicely after pandemic shutdowns. Our clients are adopting the on-demand workforce for almost all of their projects.
So why is it that gig work, which can be considered an insecure or unstable way to earn a living, continues to be so popular?
I think the answer is that picking up shifts is a simple and flexible model that permanent jobs just don’t offer. And the ability to work whenever and as much as you want is highly appealing. It’s certainly super helpful for earning extra income during inflationary times, and that flexibility around things like childcare squares with the push for remote and hybrid schedules for full-time office work. Another selling point is that it has enabled the immigrant community to visit their home country for months at a time. Picking up shifts now provides good sources of income alongside flexibility, which is often manifest in micro shifts that allow people to juggle multiple gigs or side hustles.
With the soaring cost of housing, food, gas and other items, gig workers are putting in more hours.
While discretionary income allows them to treat their partner or kids to a weekly meal or movie. Many people who downloaded gig-work apps during the pandemic, especially service industry workers who had to find other ways to earn an income, became accustomed to using them even as full-time jobs rebounded after furloughs. Picking up shifts became a part of their lifestyle. When the pandemic hit and millions of people ended up dying, a mind shift began – with many people questioning whether it was worth continuing with an unfulfilled job or working for an uncaring boss. Suddenly, they found another option to make money, which I think was a major part of the Great Resignation. The desire for more flexibility fueled gig economy growth, and now the lines between gig work and traditional employment are blurring, especially in the staffing industry.
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