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Gig EconomyColloquially, the phrase “gig economy” refers to people earning income from positions enabled by internet-era platforms, such as Uber drivers and Airbnb hosts. While the size of the gig economy is difficult to measure, best estimates from a 2023 study suggest there were roughly 4.9 million US platform gig economy workers in 2021.
The gig economy is often considered part of America’s broader independent workforce. As of 2022, roughly 58 million Americans (36% of the workforce) identified as independent workers, up from 27% in 2016.
Uber is among the largest gig economy platforms in the US, with a valuation of roughly $150B as of 2024. Airbnb and Doordash are valued at more than $75B and more than $65B, respectively, as of the same year.Explore Gig Economy
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The gig economy has rapidly transformed the way millions of Americans workRooted in flexibility and on-demand, project-based jobs, it provides opportunities for both side hustles and full-time income streams, appealing especially to younger generations seeking greater autonomy over traditional office roles. While gig work offers freedoms like flexible hours and project choice, it often lacks benefits like healthcare and retirement plans. 1440Juliet Schor wrote an informative book about the gig economy: 'After the Gig'In an interview, she explains that gig economy workers come in two groups: people who are earning supplemental income on the side of a full-time job, and people who depend on gig work for their entire incomes. As it turns out, those groups feel very differently about the gig economy. HBS Digital InitiativeMany gig economy jobs are easy to sign up for, with a low barrier to entryThat doesn’t mean being a gig worker is an easy career, however. This article provides a framework for how to succeed in the gig economy, such as getting routines in place to streamline workflows, avoiding burnout, and creating a solid network. Harvard Business ReviewFormer New Yorker editor Tina Brown coined the term “gig economy” in 2009Although this article was written pre-pandemic, the workers interviewed in it still feel representative of the sector’s modern ethos. In the piece, the writer interviews a handful of gig workers about why, exactly, they’ve chosen to make a living off of Airbnbs or TaskRabbit gigs rather than doing something else. The New YorkerListen to an interview with a gig economy expertIn this podcast episode, the hosts sit down with NerdWallet Senior News Editor Rick VanderKnyff, a gig economy expert who explains why the sector grew during the COVID-19 pandemic, what defines a gig worker, how gig workers handle their finances, and more. NerdWallet's Smart Money PodcastFind out what it's like to work in the gig economyIf you’re thinking about being a gig worker—for example, an Airbnb host, Lyft driver, or DoorDash delivery person—keep this article in mind before you start. This article outlines particular concepts prospective gig workers should think about before signing up for gig work, such as upfront costs and budgeting for taxes. NerdWalletThe gig economy is a labor market in which workers earn money through on-demand jobsThese “gigs” are often temporary or flexible tasks, such as driving for Uber. Colloquially, the term “gig economy” usually refers to people doing jobs where they connect with people who request their services through an app. InvestopediaExplore the 2025 Uber lost & found indexA chainsaw. Ten live lobsters. A mannequin head with human hair. These are just a few curious items passengers left behind in Ubers this year, according to Uber itself. Uber is among the largest gig economy platforms in the US, with a valuation of roughly $150B as of 2024. UberThe 1819 novel 'Ivanhoe' popularized the word 'freelancing'In the novel, the author wrote about “free-lances:” mercenary soldiers who were “free” to use their weapons (called, yes, “lances”) in service of whoever paid them the most. A video details that story and other gig economy basics. TED-EdFull-time employees can cost up to 1.4 times as much as an independent workerWhile gig work jobs often have a low barrier to entry and flexible work hours, there are a few downsides to the sector, too. For instance, gig work platforms like Airbnb likely won’t pay for an Airbnb host’s health insurance or paid time off. How Money WorksThe number of people collecting money from gig work tripled between 2017 and 2021That includes people driving for Lyft or delivering food through GrubHub. Those people might be changing the face of the US economy at large, too. Gig work provides a cushion between jobs outside of government unemployment assistance, for example. CNNThe average salary for full-time gig workers is roughly $60K a year in the USHigh-earners can make more than six figures, while close to 15% make less than the federal minimum hour wage. Most gig workers in the United States still have to file a tax return every year. Internal Revenue Service62% of independent workers said they would prefer permanent or non-contract workIn the consulting firm McKinsey’s 2022 “American Opportunity Survey,” 36% of employed respondents (about 58 million Americans) classified themselves as “independent workers.” But they’re not all thrilled about their current professional status. McKinsey & Company
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