Tuesday, 3 September 2019

Gig Economy an Important Income Source for Military Service Members

According to a survey from the National Foundation for Credit Counseling, military service members and their spouses are turning turn to the gig economy to supplement their income. 

Key quote from the study site:

The findings of this year’s survey are a clear indication that military households are turning to the private sector for supplemental income ... About half of active service members and their spouses have turned to the gig economy for additional income.

The exact numbers are 54% of active service members and 48% of military spouses/partners said they had worked in the gig economy to supplement their income.

A key reason they are turning to the gig economy - as the study chart below (click to enlarge) shows - is it's hard for military members and their spouses to get and hold on to a traditional job. 

Military gig economy

Military personal move often and have irregular schedules. These schedule issues make it hard to hold down a traditional job.

However, the gig economy provides low friction, highly flexible work options that work well for those looking to supplement their income. 

In addition to those serving in the military, there are many people who are effectively shut out of the traditional job market due to scheduling issues and flexibility needs. These include caregivers, parents, students, those with chronic illnesses or disabilities and many others. 

As is illustrated by this study, many of these folks are turning to the gig economy to supplement their income.



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