The gig economy has completely changed how the modern workforce ⁠ operates, offering individuals from diverse backgrounds flexible job opportunities. Gaining an understanding of who comprises gig workers is essential for comprehending and ⁠ appreciating the unparalleled dynamics found within this dynamic and evolving field. Within this text, we investigate recent investigations into ⁠ the demographic composition of gig workers. Age, race, ethnicity, and income trends among those involved ⁠ in the gig economy are illuminated by us.  

Age Composition in the ⁠ Gig Economy

New data provides captivating revelations regarding the ⁠ demographic makeup of freelance workers. An estimated quarter of the population within the age range of 35 to ⁠ 54 are involved in the gig economy working on flexible projects. Simultaneously, the gig economy sees a participation rate of ⁠ 11% among individuals aged 55 and beyond. Various factors contribute to ⁠ this age composition. In order to manage both work and education, ⁠ students commonly search for gig jobs. Recent graduates may explore gig work as they navigate the traditional job market, Gig opportunities related to apps or technology are appealing ⁠ to younger individuals. In addition, decreased family obligations might allow younger employees to seize gig opportunities providing freedom and adaptability. ​

Ethnicity and Race among Gig Workers

Gig workers are significantly more concentrated among Hispanic or African-American adults compared to White adults. Approximately 31% of Hispanic adults aged 18 and above earn money through gig work, with African-Americans following closely at 27%. In contrast, only 21% of White adults participate in the gig economy. These demographic distinctions indicate how gig work plays a substantial role in providing income opportunities for minority populations.

Primary vs. Secondary Gig Economy Income

A noticeable divergence can be observed between those who consider gig work their primary income source and those who view it as supplementary. Men (47%) are more likely to rely on gig work as their primary income compared to women (40%). On the other hand, a larger percentage of women (56%) have gig jobs as secondary income, while only 51% of men fall under this category.

Additional Key Findings

• Men (31%) are more likely than women (18%) to be employed in the gig economy.
• For over half of African-American gig workers (55%), gig jobs serve as their primary income source.
• Over 50% of gig workers between ages 18 and 34 rely on gig work as their primary income.
• Gig workers generally have a higher Anxiety Index score compared to those in traditional employment, with those who view gig work as their primary income source facing even higher anxiety levels.
• Around 80% of gig workers for whom gig work is their primary income source would find it challenging to pay an unexpected expense of $1,000.
• Approximately 85% of gig workers whose primary income comes from gig work express concerns about the potential impact of an economic recession in the U.S.