The debate over what constitutes a “gig worker” rages on, but that hasn’t stopped the gig economy from exploding.
According to a new study of gig economy trends by daVinci Payments, Inc., some 93 million workers participated in that sector in 2020, an increase of a third over 2019. Gig income was up by the same amount, to $1.6 trillion from $1.2 trillion.
The study defines “gig” as “temporary or part-time work contracted by independent workers for short-term engagements.” DaVinci drew its findings from an online survey to which 1,002 self-described gig participants responded.
The stellar numbers don’t exactly reflect the situation of individual gig workers. According to the study, average annual gig income was just $17,477, with 74% of gig workers making less than $15,000.
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