The “Gig” is Up

Parker-Associates-blog-June-2018-The-Gig-Economy

The ‘Gig’ Is Up!

The Gig Workforce That Is

Have you heard about the ‘Gig Workforce’?  Also called: on demand workforce, freelancers, subcontractors, and contingent workforce.  The Gig Workforce is not really new but according to Freelancing in America more than 55 million Americans do freelance work, and 79% of them prefer freelance work to a traditional job.  And, as reported by the Herman Trend Alert, by the year 2025, more than 50 percent of the global workforce will be Gig workers.

Parker-Associates-blog-June-2018-Gig-Workforce

Parker-Associates-blog-June-2018-Gig-Workforce

The Gig Workforce in 2017…more to come

If you think gig workers are a growing share of the U.S. labor force, the results of the latest survey of gig work appear to contradict the notion. According to the long-awaited Bureau of Labor Statistics’ 2017 estimate of the gig workforce, measured through a special supplement to the Current Population Survey, there has been no growth or even decline since 2005 in the proportion of American workers who, in their main job, are what the BLS calls “contingent or alternative.” These workers include independent contractors, on-call, temporary, and contract workers, as well as those working short stints (contingent). This is the first update of the BLS’ contingent and alternative worker survey since 2005 (pre-Uber!), and the finding of little to no growth doesn’t make sense. What’s the explanation?

Here is the explanation: a whole lot of alternative workers are missing from these latest counts. A highlighted box in the news release notes…

“Four new questions were added to the May 2017 Contingent Worker Supplement. These questions were designed to identify individuals who found short tasks or jobs through a mobile app or website and were paid through the same app or website. BLS continues to evaluate the data from these new questions; the data do not appear in this news release. When available, additional information will be at www.bls.gov/cps/electronically-mediated-employment.htm. Findings from this research will be published in a Monthly Labor Review article by September 30, 2018.”

We will have to wait a bit longer for the much-anticipated official measure of the real size of the gig workforce.

Parker-Associates-blog-June-2018-Gig-Infographic-2015

Parker-Associates-blog-June-2018-Gig-Infographic-2015

There are so many difficult questions that must be faced in a great many developments and building construction. We can help. Contact our seasoned professionals at info@realestatemarketingteam.us or (904) 992-9888.

If you have or are living in a community that is in need of improving their position, give us a call or email us.  We offer FREE advice.  Stay on top of the competition.  Know the latest data and market research that can help improve your chance for success in business and the real estate industry.  PTC Computer Solutions, Parker Associates, and REDdot Marketing work closely as the REMA Team to provide a great number of services for developers, builders, and professional business operations.  Contact REMA for more information.

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