More Than One-Third of Gig Workers Rely on Gig Work as Primary Source of Income
TransUnion's Fall 2024 US Gig Economy Report reveals that 62% of U.S. adults now earn money from gig platforms, with 37% relying on it as their primary income source. Millennials lead this trend, with 55% using gig work as their main employment. The report highlights high worker satisfaction (64%) due to flexibility, enjoyment, and skill alignment. Top gig work types include ridesharing (23%), freelancing (19%), and food delivery (19%).
While most gig workers earn under $2,500 monthly, 36% of Millennials and 21% of Gen Z report earnings over $5,000 per month. The majority plan to maintain or increase their gig involvement, with only 8% intending to switch to full-time employment. To attract and retain workers, platforms are considering offering services like identity protection, financial education, and supplementary insurance.
Il Rapporto sulla Gig Economy negli Stati Uniti di TransUnion per l’autunno 2024 rivela che il 62% degli adulti statunitensi guadagna attualmente denaro attraverso piattaforme gig, con il 37% che dipende da esse come principale fonte di reddito. I Millennial sono i protagonisti di questa tendenza, con il 55% che utilizza il lavoro gig come occupazione principale. Il rapporto evidenzia un'alta soddisfazione dei lavoratori (64%) grazie alla flessibilità, al divertimento e all'allineamento delle competenze. Le principali tipologie di lavoro gig includono il ridesharing (23%), il freelance (19%) e la consegna di cibo (19%).
Sebbene la maggior parte dei lavoratori gig guadagni meno di $2.500 al mese, il 36% dei Millennial e il 21% della Gen Z riportano guadagni superiori a $5.000 al mese. La maggior parte prevede di mantenere o aumentare il proprio coinvolgimento nel lavoro gig, con solo l’8% che intende passare a un'occupazione a tempo pieno. Per attrarre e trattenere i lavoratori, le piattaforme stanno considerando l'offerta di servizi come la protezione dell'identità, l'educazione finanziaria e l'assicurazione supplementare.
El Informe sobre la Economía Gig de EE.UU. de TransUnion para el otoño de 2024 revela que el 62% de los adultos estadounidenses ahora ganan dinero a través de plataformas gig, con el 37% confiando en ello como su principal fuente de ingresos. Los Millennials lideran esta tendencia, con el 55% utilizando el trabajo gig como su principal empleo. El informe destaca una alta satisfacción laboral (64%) gracias a la flexibilidad, el disfrute y la alineación de habilidades. Los principales tipos de trabajos gig incluyen el ridesharing (23%), el freelancing (19%) y la entrega de comida (19%).
Aunque la mayoría de los trabajadores gig gana menos de $2,500 al mes, el 36% de los Millennials y el 21% de la Generación Z reportan ingresos superiores a $5,000 al mes. La mayoría planea mantener o aumentar su participación en el trabajo gig, con solo un 8% que tiene la intención de cambiar a un empleo a tiempo completo. Para atraer y retener trabajadores, las plataformas están considerando ofrecer servicios como protección de identidad, educación financiera y seguros complementarios.
TransUnion의 2024년 가을 미국 긱 경제 보고서에 따르면 62%의 미국 성인이 현재 긱 플랫폼을 통해 돈을 벌고 있으며, 37%는 이를 주요 소득원으로 의존하고 있습니다. 밀레니얼 세대가 이 트렌드를 이끌고 있으며, 55%가 긱 일을 주요 직업으로 삼고 있습니다. 보고서는 유연성, 즐거움 및 기술 적합성 덕분에 근로자의 높은 만족도(64%)를 강조합니다. 주요 긱 작업 유형으로는 라이드셰어링(23%), 프리랜서(19%) 및 음식 배달(19%)이 있습니다.
대부분의 긱 근로자가 월 $2,500 이하를 벌지만, 밀레니얼의 36%와 Z세대의 21%가 월 $5,000 이상의 수익을 올리고 있습니다. 대부분은 긱 참여를 유지하거나 늘릴 계획이며, 단 8%만이 정규직으로 전환할 의향이 있습니다. 근로자를 유치하고 유지하기 위해 플랫폼은 신원 보호, 재정 교육 및 추가 보험과 같은 서비스를 제공할 것을 고려하고 있습니다.
Le Rapport sur l'Économie Gig de TransUnion pour l'automne 2024 révèle que 62 % des adultes américains gagnent désormais de l'argent grâce aux plateformes gig, avec 37 % s'appuyant sur celles-ci comme principale source de revenus. Les Millennials sont à la tête de cette tendance, avec 55 % utilisant le travail gig comme leur emploi principal. Le rapport souligne une grande satisfaction au travail (64 %) grâce à la flexibilité, au plaisir et à l'adéquation des compétences. Les principaux types de travail gig comprennent le covoiturage (23 %), le freelance (19 %) et la livraison de nourriture (19 %).
Bien que la plupart des travailleurs gig gagnent moins de 2 500 $ par mois, 36 % des Millennials et 21 % de la Génération Z rapportent des revenus supérieurs à 5 000 $ par mois. La majorité prévoit de maintenir ou d'augmenter leur implication dans le travail gig, avec seulement 8 % ayant l'intention de passer à un emploi à temps plein. Pour attirer et retenir les travailleurs, les plateformes envisagent d'offrir des services tels que la protection de l'identité, l'éducation financière et une assurance complémentaire.
Der Gig Economy Bericht von TransUnion für den Herbst 2024 zeigt, dass 62% der Erwachsenen in den USA mittlerweile mit Gig-Plattformen Geld verdienen, wobei 37% darauf als ihre hauptsächliche Einkommensquelle angewiesen sind. Die Millennials führen diesen Trend an, wobei 55% Gig-Arbeit als ihre Hauptbeschäftigung nutzen. Der Bericht hebt eine hohe Zufriedenheit der Arbeiter (64%) aufgrund der Flexibilität, des Genusses und der Übereinstimmung der Fähigkeiten hervor. Die wichtigsten Arten von Gig-Arbeiten sind Ridesharing (23%), Freiberuflichkeit (19%) und Essenslieferung (19%).
Obwohl die meisten Gig-Arbeiter monatlich weniger als 2.500 $ verdienen, berichten 36% der Millennials und 21% der Gen Z von Einnahmen über 5.000 $ pro Monat. Die Mehrheit plant, ihr Engagement in der Gig-Arbeit beizubehalten oder zu erhöhen, wobei nur 8% beabsichtigen, zu einer Vollzeitbeschäftigung zu wechseln. Um Arbeiter anzuziehen und zu halten, ziehen es Plattformen in Betracht, Dienstleistungen wie Identitätsschutz, finanzielle Bildung und zusätzliche Versicherungen anzubieten.
- 62% of U.S. adults now earn money from gig platforms
- 37% rely on gig work as their primary income source
- 64% of gig workers report high satisfaction
- 36% of Millennials and 21% of Gen Z gig workers earn over $5,000 per month
- Majority of gig workers plan to maintain or increase their involvement
- Two-thirds of gig workers report earnings under $2,500 per month
Insights
The TransUnion report reveals significant trends in the gig economy, with 62% of U.S. adults now earning from gig platforms. This widespread adoption indicates a maturing market with potential implications for traditional employment models. The fact that 37% of gig workers rely on it as their primary income source suggests a shift in workforce dynamics that could impact various sectors.
Key findings include:
- Millennials lead gig work adoption, with
55% using it as their primary income 64% of gig workers report high satisfaction, primarily due to flexibility36% of Millennials and21% of Gen Z gig workers earn over$5,000 monthly
These trends could influence consumer spending patterns, loan markets and the broader economy. For investors, this signals potential growth in gig economy platforms and related services, such as identity protection and financial education tools for gig workers.
TransUnion's report on the gig economy has several implications for investors and the financial sector:
- The high adoption rate of gig work (
62% of U.S. adults) suggests a significant market opportunity for companies operating in this space. - With
37% relying on gig work as primary income, there's potential for increased demand in financial products tailored to irregular income streams. - The trend of younger generations earning substantial incomes (
$5,000+ /month) from gig work could impact traditional lending models and credit assessments.
Investors should consider the growth potential in gig economy platforms, as well as ancillary services like identity protection and financial education. This shift in work patterns may also affect traditional employment-related stocks and could lead to innovations in the financial services sector to cater to this growing workforce segment.
The TransUnion report highlights a significant shift in the labor market dynamics:
- The gig economy is no longer just a side hustle, with
37% using it as their primary income source. - High satisfaction rates (
64% ) and plans to maintain or increase gig work suggest this trend is likely to continue. - Only
8% plan to stop gig work for full-time employment, indicating a structural change in the job market.
This evolution could lead to:
- Increased pressure on traditional employers to offer more flexibility
- Changes in labor laws and regulations to accommodate gig workers
- A need for new social safety nets and benefits structures for non-traditional workers
Investors should watch for companies adapting to this new labor landscape, as well as potential regulatory changes that could impact gig economy platforms and traditional employers alike.
TransUnion report finds gig workers enjoying the benefits of a maturing career field
CHICAGO, Oct. 15, 2024 (GLOBE NEWSWIRE) -- While consumers have grown accustomed to on-demand services, like ridesharing and food delivery, they are also increasingly open to participating in the gig economy as workers. More than half of U.S. adults (
Across generations, over one-third (
“The gig economy has earned a strong reputation among workers as a reliable source of income that allows for unparalleled flexibility,” said Tracey Lazos, senior director of TransUnion’s gig economy business. “Our research indicates that this trend is likely to continue as more seek a primary or supplementary income from gig work.”
Millennials are the leading generation of gig workers, with
Improved quality of life
More than half of respondents reported their household finances were better than planned, and work satisfaction on gig platforms was generally high, with
| Top Reasons for Worker Satisfaction with Gig Platforms | |||
| Flexibility | Enjoy the Work | Good Fit for Skillset | Earning Potential |
When deciding what type of work to engage in, flexibility (
“The sense of acceptance from one’s social circle is also important to how people feel about themselves as professionals,” said Lazos. “That the report found a quarter of gig workers started because it was recommended by friends or family members indicates that gig work has a growing sense of legitimacy as a profession.”
Over
Competing for workers
The report found most gig earners plan to either maintain or increase their involvement in the gig economy. More than one-third (
Only
The possibility for gig platforms to gain a greater share of the workforce creates an imperative for them to consider services and incentives to attract and retain workers. The survey proposed several potential services platforms could offer workers and found the most desirable options were identity protection, financial education, and supplementary insurance coverage.
Seasonality is also an important consideration for attracting new workers. While
“Gig workers already enjoy a flexible work experience that allows them to earn what they want, when they want, and how they want,” said Lazos. “By introducing services that also help them feel more empowered and able to meet long-term goals, platforms can provide a comprehensive offering that attracts workers who will create great customer experiences—while boosting worker retention.”
Companies interested in attracting a high-value workforce should consider TransUnion’s TruAudience solutions for targeting and outreach. In addition, TransUnion’s TruEmpower™ line of solutions for consumer-facing identity protection and financial education can help retain workers.
Click here to read the latest TransUnion Fall 2024 US Gig Economy Report.
Research Methodology
This online survey of 1,013 adults was conducted in August 2024, by TransUnion in partnership with third-party research provider, Toluna. Survey participants included adults 18 years of age and older residing in the United States who participate in the gig economy as a contractor of gig economy services. Participants included current, past, and future contractors of gig economy services. To ensure general population sample representativeness across United States resident demographics, the survey targeted respondents in line with the census statistics on the dimensions of age, gender, household income, and region. These research results are unweighted and statistically significant at a
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. http://www.transunion.com/business
| Contact | Dave Blumberg | |
| TransUnion | ||
| david.blumberg@transunion.com | ||
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FAQ
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