FX.co ★ About 30% of Americans and Europeans are self-employed

According to McKinsey Global Institute, from 20 to 30% of the Americans and Europeans of employable age are engaged in gig work (the Gig Economy), the Financial Times reports. The survey conducted among 8,000 people revealed that there are more self-employed people in the US and Europe that the official statistics show. Importantly, while most of these people are not worried about having no permanent job, 30% of the respondents consider self-employment just as a fallback position. According to the FT, part-time job is devastating for the US and British economies despite low unemployment levels at 5% and 4.9% respectively. Experts’ opinions on the consequences of rising self-employment diverged. Some of them believe that self-employment increases the number of the participants of the labor market and gives them some freedom. Meanwhile, opponents of the gig economy think that the main disadvantage is that this group of workers is vulnerable because they cannot get illness compensation and the minimum wage isn’t established. McKinsey survey shows that only 6% of self-employed use Uber and Deliveroo, recognized as the most popular free-lance sources.