• 735 days Will The ECB Continue To Hike Rates?
  • 736 days Forbes: Aramco Remains Largest Company In The Middle East
  • 737 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,137 days Could Crypto Overtake Traditional Investment?
  • 1,142 days Americans Still Quitting Jobs At Record Pace
  • 1,144 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,147 days Is The Dollar Too Strong?
  • 1,147 days Big Tech Disappoints Investors on Earnings Calls
  • 1,148 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,150 days China Is Quietly Trying To Distance Itself From Russia
  • 1,150 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,154 days Crypto Investors Won Big In 2021
  • 1,154 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,155 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,157 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,158 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,161 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,162 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,162 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,164 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

  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