• 309 days Will The ECB Continue To Hike Rates?
  • 309 days Forbes: Aramco Remains Largest Company In The Middle East
  • 311 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 711 days Could Crypto Overtake Traditional Investment?
  • 715 days Americans Still Quitting Jobs At Record Pace
  • 717 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 720 days Is The Dollar Too Strong?
  • 721 days Big Tech Disappoints Investors on Earnings Calls
  • 722 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 723 days China Is Quietly Trying To Distance Itself From Russia
  • 724 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 728 days Crypto Investors Won Big In 2021
  • 728 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 729 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 731 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 731 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 735 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 735 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 736 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 738 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

Gig Economy Take II: Nearly Entire Increase in Employment Since 2010 is in Gigs!

In my report, How Big is the "Gig" Economy? What about "Permatemps"? I accidentally put commas in the wrong place when reporting the estimated increase in "gig" employment.

With commas in the correct place, the estimated increase in gig employment between 2010 and 2015 is 10,058,540 not 1,005,854 as originally shown.

The BLS shows employment rose 10,628,000 in the same period.

Thus, nearly the entire increase in employment (94.6%) since 2010 has been in the gig economy!


Gig Statistics

  1. Total employment in December 2010: 139,301,000
  2. Total employment December 2015: 149,929,000
  3. 2010 "gig" employment (10% of line 1): 13,930,100
  4. 2015 "gig" employment (16% of line 2): 23,988,640

I used "Civilian Employment", a household survey measure, in my calculations, for reasons fully explained in the original article.

According to the BLS, the growth in employment from December 2010 to December 2015 was 10,628,000. This number was reported correctly.

The study estimates 10% of employment in 2010 was gigs compared to 16% of employment in 2015.

Putting commas in the right place on lines three and four, the increase in gig employment in the same period is 10,058,540 not 1,005,854 as originally shown.

Only one person caught this error. Thanks Jan "JdJ"!

Virtually the entire increase in employment (94.6%) since 2010 was in the "gig" economy!

 

Back to homepage

Leave a comment

Leave a comment