How Fintech Is Changing Financial Services For Gig Economy Workers

Out of a national sample of 2,566 adults employed in the last six months, 19.4 percent, or 498, self-identified as gig economy workers, which the survey defined as those who accrue a considerable amount of their income from a series of freelance and contract jobs and included both full-time and part-time gig workers. The full survey has a margin of error of 2 percentage points; the subsample of gig economy workers has a margin of error of 3.9 percentage points.

In the survey, 80 percent of gig workers said they are satisfied with their current job, and 59 percent are satisfied with their financial situation. That is compared to 78 percent of all workers who said they are satisfied with their current jobs and 62 percent satisfied with their current financial situation.

Gig workers surveyed also show similar satisfaction with their pay (69 percent), benefits (64 percent) and required hours (75 percent) to the entire workforce, where 68 percent are satisfied with pay, 67 percent with benefits and 78 percent with the required hours.

Yet Louis Hyman, director of Cornell University’s Institute for Workplace Studies, said it’s important to consider the context for gig work and job satisfaction, especially considering that contractors on certain gig platforms were sold a specific image.

“There is this fantasy that you can work in this space and make good money even though you don’t have a job or skill set more complicated than driving a car,” he said. “That’s an issue. It’s not delivering to working-class Americans any better than the rest of the economy.”

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How Fintech Is Changing Financial Services For Gig Economy Workers

Source:Time

How Fintech Is Changing Financial Services For Gig Economy Workers

How Fintech Is Changing Financial Services For Gig Economy Workers

Source:TechCrunch

How Fintech Is Changing Financial Services For Gig Economy Workers

How Fintech Is Changing Financial Services For Gig Economy Workers

Source:rediff.com

How Fintech Is Changing Financial Services For Gig Economy Workers