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Small Businesses Do 40 Percent of the Hiring in the Gig Economy, New Study Says

Apr 13, 2017 01:42 PM EDT

Over the course of the last decade, the so-called "gig economy" has rapidly expanded to become one of America's most crucial labor markets. Around one in three American workers are now freelancers, and more than one third of Millennials.

And according to a new study compiled by LinkedIn (NYSE:LNKD), it's small business owners that are the driving force behind that exponential growth.

The Gig Economy and Small Businesses

Researchers at the world's largest professional networking site found that small businesses are now responsible for an estimated 40 percent of all hiring activity across the wider gig economy, with midmarket companies and enterprises accounting for 35 percent and 25 percent, respectively.

The study also found that 93 percent of contractors and freelancers as a collective are likely to consider working at a small business - which comes in at three percent higher than the global average for business professionals.

Software and IT services tops the list of industry segments with the largest number of contractors and freelancers in the gig economy, boasting a talent base of some 223,000 professionals. Media and communications comes in second with 166,000 contractors, followed by healthcare with 164,000.

Please read the rest of the article at Small Business Trends here.

 

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