The gig economy is not a new phenomenon, but it is becoming more prevalent and popular among young workers, especially Gen Zers and millennials. According to a new analysis from Bank of America, 40% of Gen Zers and 31% of millennials have a side gig, compared to 25% of Gen Xers and 9% of baby boomers. But why are more young people turning to gig work, and what are the benefits and challenges they face?
One possible reason is that gig work offers more freedom and flexibility than traditional work arrangements. Gig workers can choose their own hours, projects, and clients, and pursue their passions and interests. For example, Anna Jones, a freelance writer and graphic designer, says: “I love the freedom and flexibility of being a gig worker, but I hate the uncertainty and insecurity of not knowing how much I’ll make each month or if I’ll be able to cover my expenses” .
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