The NEW ECONOMY
Hello everyone, Russell here. People are still talking about the new economy, some of these companies have become household names. Today, there are a plethora of business opportunities for stay at home moms. These days however, stay at home moms are competing with much more of the workforce than 50 years ago. While some industries are experiencing a “Labor surplus” there are many industries that have jobs that go UNFILLED! Information Technology or “IT” have positions go unfilled every year. Specifically in areas like, coding and web technology. Other industries are losing jobs by the month! Fortunately for some, the gig economy is robust! So much so that this Labor surplus(fancy term for people who are out of a job) is being taken full advantage of by companies like Uber, Lyft, and postmates. These 3 companies are all in the cash rich silicon valley. But the new gig economy is in full effect all over the US.There are a few definitions of “GIG jobs”. The US bureau of labor statistics describe a gig job as:
“a single project or task for which a worker is hired, often through a digital marketplace, to work on demand.”
GIG used to describe a musician’s performance. For example, if asking a musician what he’s doing on Friday night he might answer:
“dude i’ve got a gig on Friday night, you outta come check out the set”
Looking for work
Now I’ve said a million times that innovation eliminates jobs. People cringe when I say it but it is true…
- The automobile replaced the horse
- The cotton gin replaced the human
- Robots replacing humans in so many different jobs such as in the automotive industry.
There was once a time that there were lots of people with full time jobs looking for part time work. With the new economy, there are many people who are looking for business opportunities to “replace my day job”.
Gig jobs are helping many people put food on the plate. If you’re working as an Uber or Lyft driver, you have complete flexibility in your schedule. You’re an independent contractor, so you’re responsible for paying the taxes on your profits. This type of flexibility is good, and an indication that people enjoy the idea of entrepreneurship. The opportunities of these new types of jobs are not good news for everyone. Some people find it unnerving. I can relate as a husband and father. My parents raised me with the belief that you cannot rely on 1 job to make a living. Good advice I think. Today’s economic climate calls for people to be highly diverse in creating income. Unfortunately, gig jobs generally do not come with benefits. You’re not even guaranteed hourly wages. A friend of mine recently reminded me that “when the wind is erratic, all you have to do is adjust your sails and continue in the direction you’re trying to go in.
There are many “gig” jobs… I like to call them freelance businesses.
Some of the best legitimate online businesses are:
- Door dash
- Amazon Flex
- Amazon FBA
- …. and more
Now there are many more companies on this list, the companies above are a small example of companies that people have been able to use their cellphones and their computers to make money. The concept is not new but now more people are open to the conversation as “gigging” as a viable source of making money in the 21st century. Many people are now looking to find an online business startup guide.