“Traditional wage increases cannot keep pace with record braking inflation rates that hover around 8%. It has never ever happened in the history of any mature economy in the world. We respond to this type of uncertainty and challenge by conserving as best as possible. The preceding comment sounds like a defense strategy and it is. However, there is an offensive strategy that continues to gain momentum and continues to grow at growth rates exceeding those of the overall economy and traditional jobs. As traditional models continue to remain flat or modest in growth, the gig economy reported impressive growth through the 1st and 2nd quarters of the year.”

The gig economy is also expected to reflect growth for 3rd quarter. This newsletter provides us with an opportunity to keep you abreast of what is happening in the marketplace that may impact your decision making. There is no one body/entity or resource that tracks the gig economy in the same manner that we track industries such as traditional retail, automobile sales, online consumer purchasing, etc. Therefore, a source of thoughtful aggregation of stats are difficult to find but helpful to the thinking process. By referring such sources that we find, we hope that we are saving you time, and adding value to your thinking.

The following will provide you with access to some recent information that we found:  (Impressive Gig Economy Stats and Trends 2022 (thrivemyway.com)” There were 100 points within the information that THRIVEmyway founder, Georgi Todorov, shared. Below are just a few that we thought are worth noting as we know enter the final quarter of another year and prepare a pathway as to how we desire to live and work in the new year.

• 99% of remote workers say they would like to continue working remotely.
• 2% of remote workers do not consider their choice a long=term option.
• 64% of freelancers would like to stay independent vs work traditionally.
• 70% of freelancers say freelancing is a better work-life experience.
• 86% of freelancers have high hopes for the future despite the recent health crisis.
• 84% of freelancers prefer the life they live compared to traditional workers.
• 78% of gig workers say they are happier than traditional workers.

As you think about now being into the month of October, you too will be turning it up to maximize all of your possibilities as we close another year.

Assuming you read this newsletter because you are already an entrepreneur or micro entrepreneur, you are now into those final months of the year when your services are most valued and possibly respected more so than at any other time during the year. In some forms of gig work, the gratuities made possible when excellence is delivered can often mean more than a 20% increase in the return on time invested. For those involved in selling some type of consumer product or service, this is the season when consumers tend to spend more therefore, those providing the products and services sell more and consequently earn more.

For those of you who have the opportunity to benefit from sharing with someone else the type of gig opportunity you are currently engaged or providing, there is no better season of the year as the common goal shared by everyone is to make the work-life equation as positive as possible during the last months of the year. No better time to start something in preparation for the new year as well!