NPR on Anxiety in the Gig Economy

NPR's recent Marketplace-Edison Research poll data (below) shows that gig workers "report significantly higher economic anxiety than regular full-time workers."

Regular readers will not be surprised by this. We've long reported on what we call the "yin and yang" of independent work. 

The yin and yang is most independents like the freedom, control and autonomy being independent provides. In exchange, they must deal with the hard work, uncertainty and anxiety that comes with it.  

NPR-Edison’s survey also found the yin and yang. Key quote on the positives of gig work from their article What Makes Gig Worker Anxious:

"Our survey finds that gig workers highly value setting their own schedule and being their own boss."

in our work we've found substantial risk profile differences between independent workers and those with traditional jobs. The net of this is independent workers are more willing to accept and deal with these risks – and the anxiety that comes with it - than those who have traditional jobs.

Even highly successful freelancers and independent workers face higher levels of anxiety. Key quote from the Harvard Business Review's The 4 Things You Need to Thrive in the Gig Economy, which covers a study of successful gig workers:

"All those we studied acknowledged that they felt a host of personal, social, and economic anxieties without the cover and support of a traditional employer—but they also claimed that their independence was a choice and that they would not give up the benefits that came with it."

So yes, gig workers experience more anxiety. But most think it's well worth it.

We've just started a new study looking at how independents and non-independents view and respond to risk. We'll report our results in a few months.

Comments

[Steve]

Rex: Picky, picky, picky:). I listen to Marketplace on NPR and the article was from NPR.

[Smallbusiness]

Steve, I agree with everything except this: MarketPlace is not an NPR show. It's produced by American Public Media and airs on lots of public radio stations that also air NPR programming.