Meanwhile, basic costs of living are soaring.
So what do we do?
We take out our smartphones and download a side gig, duh.
I track trends, vet new gig companies and apps and highlight unique side hustles.
In my reporting, Ive noticed that people seem to flock to gigs out of necessity and/or convenience.
As the gig economy roars into another decade, heres what to what to watch for.
Gig Economy: A Trendy Phrase for an Age Old Concept… Its easy to see how the term was co-opted to describe short-term and temporary work in a broader way.
But the concept of gigs existed long before the century-old colloquialism.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
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Well keep it updated as offers changes or expire.
All those people are entrepreneurs, whether they call themselves that or not.
Its likely all of them will come back to you with a different answer.
The problem plagues economic researchers, too.
Its hard to quantify a sector of the economy we dont know how to define.
Should it include second jobs?
Is it any income outside of main employment?
Wait a minute, you have no main employment, and your income stems from six different projects?
More inclusive definitions equate gig work with freelancing.
The Federal Reserve released an economy well-being report in the summer that pegged the number closer to 80 million.
Did you know?
But one things for sure: The gig economy is big and its growing.
But you may not feel confident explaining your gig experience when applying to jobs in the traditional job market.
You may wonder whether your experience dashing from restaurant to customer to restaurant counts as job experience at all.
It certainly feels like work.
But do hiring managers view it the same way?
They were loud and clear:include gig experience on your resume.
To better highlight your gig experience, drop the bolded job titles and employment dates.
Instead, focus on your accomplishments.
Tell exactly how you maintained that five-star driver status.
Describe your transferable skills on your resume and during job interviews.
These are skills you picked up from your gig that are relevant to the position youre seeking.
The reality isnt nearly so liberating.
According to federal reports, Americans are increasingly using money from gigs to cover basic necessities.
That, too, is a recipe for disaster.
If thats where youre at, a part-time job is likely a better option.
Theyre not protected by OSHA, she said.
Its very much a sort of Wild West of working.
Its the most populous state with some of the highest living expenses.
It could be disastrous for their business plan, Ravenelle said.
And the gig companies know this.
Uber and Lyft together pledged to spend $90 million on advertising to oppose the bill.
I was in San Francisco on the evening California legislators passed AB 5.
Gavin Newsom signed AB 5 anyway.
Its slated to go into effect in January.
The major gig companies are already fighting it.
AB 5 does not provide drivers with benefits, nor does it give drivers the right to organize.
In fact, the bill currently says nothing about rideshare drivers.
Well be keeping a close eye on it either way.
Adam Hardy is a staff writer at The Penny Hoarder.
He specializes in ways to make money that dont involve stuffy corporate offices.
Read his latest articles here, or say hi on Twitter@hardyjournalism.
Probably not as good as youd like.
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