The McKinsey Global Institute has completed a study on career work choices and the way different people work. Unsurprisingly, a substantial population of the workforce is engaged in what is now termed as the gig economy. More than one-hundred and sixty million people across Europe and the US are part of the independent workforce, which makes up between a fifth to a third of the working age population. These independent workers however, are not homogeneous but may be divided into four categories beginning with the Free Agents who have chosen this life, so derive entire income out of freelancing. Casual earners are those who have a main full-time job but supplement their income through such work. Reluctants are those fully into freelancing, but would rather take up any full-time post if available. The financially- strapped have chosen this mode due to necessity. The first two categories of independents tend to be more satisfied about their work than the last two. Free Agents in fact display greater average satisfaction levels than even full-time workers. Business intelligence derived out of this study estimates that the largest segment among these are casual earners who make up about two-fifth of total independents, while reluctants make up the lowest segment at around fourteen percent.

Source:https://www.mckinsey.com/global-themes/employment-and-growth/independent-work-choice-necessity-and-the-gig-economy

Uploaded Date:13 December 2017