Retiree Ken Howe sees gig work as a win both for him and his customers.
"I am 78 years old," Howe said. "I have lots of experience driving for hire, over 20 years in fact. I now enjoy driving for both Uber and Lyft on a part-time basis to supplement my income as well as give me something constructive to do. I am no longer able to maintain a 12-hour shift, nor do I wish to. The fact we have people who need rides is validation that there is a need for us."
According to a 2021 Pew Research Center study, 56% of current or recent gig workers cited "wanting to save up extra money" as a major reason for participating in the gig economy. Fifty-two percent cited the need to cover a change or gap in income, while 49% reported that flexibility and the ability to control their own schedule was a major factor in choosing to do gig work. Other top reasons included "wanting to be their own boss," working for fun or as a hobby, and not having many job opportunities available in their area.
Forbes reports that 84% of full-time freelancers say their work lets them live the lifestyle they want, compared to 63% of full-time traditional workers. Another 42% said they would not be able to work a traditional job due to life circumstances.
By 2027, the number of freelancers in the U.S. is expected to increase to 86.5 million, or half of the total workforce, according to Fast Company. Full-time freelancers represented 28% of workforce in 2019, increasing to 36% in 2020. Thirty percent of Fortune 100 companies utilize freelance workers, according to Upwork CEO Hayden Brown. “Freelancers are in high demand in pretty much every skill area that can be done in front of a computer," Brown said.
The number of customers who use Uber increased from 93 million in 2020 to 118 million in 2021, according to Business of Apps. Uber drivers completed more than 6 billion trips in 2021, for an average of more than 17 million trips per day. More than 5 million people across the globe worked as Uber drivers in 2021.
Lyft operates in more than 350 cities across the U.S. and employs around 1.4 million drivers globally, according to Policy Advice. More than 23 million people around the world use Lyft. The company's market share has increased to 30%, which reflects an increase of 10% over the last three years.