Gig workers drive passengers with ridesharing services or conduct tours, comprising a growing segment of workers. Many of their payments, however, are sent through slow or complicated methods. Paper checks are still popular with firms that pay freelancers, even though workers want faster digital payments. And platforms that don’t innovate to support the gig economy’s payment needs will soon find themselves obsolete. All this, Today in Data.
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Data:
$443B: Projected value of the gig economy by 2023.
50 percent: Share of the American workforce that will be made up of gig workers by 2028.
29 percent: Portion of freelancer invoices that are sent out late.
20 percent: Share of gig workers who work exclusively within the gig economy.
$1.4T: Total value of payments made by U.S. gig workers in 2018.
