Turns out the gig economy is actually shrinking

Turns out the gig economy is actually shrinkingTurns out the gig economy is actually shrinkingIt seems like the gig economy is booming, with much talk in the media about the death of the regular job, and seemingly everyone freelancing and driving for Uber. But two recent reports one from the Bureau of Labor Statistics (BLS), published last year, and one from the Economic Policy Institute, published in February show that the contingent work market is actually declining.Follow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and moreThe Economic Policy Institute (EPI) data covered a ten-year period, from 2005-2017. The report measures contingent work as a contract employee or temporary help, independent contracting, or day labor work.The changes toward voreingestellt work and away from contingent work were gradual, yet real and noticeable.In 2005, the total percentage of the labor force working in nonvoreinges tellt work arrangements was 10.9%. In 2017, it was 10.1%. By comparison, the previous BLS report had similar percentages.The independent contractor workforce is getting increasingly older, and older workers were more likely to be independent contractors than any other age group in both 2005 and 2017. Still, they also saw a decline. Independent workers between the ages of 55-64 went from 10.8% in 2005 to 9.3% in 2017.Between 2005 and 2017, the percentage of workers who were independent contractors fell from 7.4% to 6.9%.Other findingsThe most popular segment of contingent work? You guessed it transportation and utilities, at 22%.In May 2017, 89.9% of the workforce was employed in a standard arrangement as their main job.Looks like were not all going to turn into Taskrabbits anytime soon.You might also enjoyNew neuroscience reveals 4 rituals that will make you happyStrangers know your social class in the first seven words you say, study finds10 lessons from Benjamin Franklins daily sc hedule that will double your productivityThe worst mistakes you can make in an interview, according to 12 CEOs10 habits of mentally strong people