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How big, really, is the “gig economy”?
Our latest research finds the hype around a ballooning nontraditional workforce is out of line with hard data. In 2017, the share of nontraditional workers in the US was no different than twenty years ago. The situation in many European labor markets is different, perhaps due to employers playing a much smaller role in providing health benefits.
The forces limiting growth in the US include:
- Outsourcing of noncore functions has reached saturation
- Wage growth for nontraditional workers reduces the benefits of hiring them
- Companies want to keep control of institutional knowledge
One caveat: The emergence of online labor platforms may yet move the needle on more nontraditional jobs. How—and when? Join our special webcast on December 11 to find out.