Tuesday, 18 December 2018

Gig Workers and Economic Anxiety

Marketplace and Edison research recently released Americans and the Gig Economy, a survey of gig workers

The survey covered a lot of ground, including finding about 24% of American 18 and older are gig workers. This works out to a bit more than 60 million. 

The survey also asked a series of questions about economic anxiety.

They found gig workers, on average, experience more economic anxiety than those with traditional jobs.

Gig worker economic anxiety

The report describes their anxiety index as:

... a tool designed by Edison Research and Marketplace to measure the amount of stress a person feels about their individual financial situation. A series of twelve questions is asked regarding job security, saving and expenses, and general financial anxiety. The higher the number, the more stress a person is experiencing.

They also found gig workers are more likely to report being "not financially secure" than those with traditional jobs.

Gig worker financial situation

And they are more likely to say they are financially anxious than those who are in traditional jobs.Gig worker frequently anxious

As we've often pointed out, the yin and yang of independent work means trading off financial security for work autonomy, control and flexibility.

The results of this study reinforce this.



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