Is the Gig Economy Sustainable? 5 Freelancers Weigh In

I waited almost a whole year after I started freelance writing to quit my job. It wasn’t because of the money. In fact, I was making enough to fully replace my income in just a few months. So why did I delay my dreams for nearly a year?

One word: sustainability.

It felt too easy. I was getting plenty of steady work. I thought I was supposed to struggle for months before I could finally pursue my passion. So I kept waiting for the other shoe to drop. It never did. 

I wanted to make sure my new venture would be sustainable – so I didn’t have to go back to someone else’s office. It’s been a wild ride, and I’ve been able to sustain my success.

But not all freelancers or gig workers enjoy the same level of security. 

So I asked the freelance community: Is the gig economy sustainable? Why or why not? What do you suggest other freelancers do to make it more sustainable?

Here is what 5 thought-leaders (including myself) had to say:

• The Gig Economy Will Be Efficient, and You Can Be Too

• Inflation Adds Pressure to the Gig Economy

• More Sustainable for Remote Workers

• Gig Economy Needs Regulation

• Sustainable for Some, Not All

The Gig Economy Will Be Efficient, and You Can Be Too

The gig economy is likely to sustain. Its resilience comes from the fact that it is a bottoms-up effort from millions of individuals competing and refining their skills.

Freelancers will need to continually look for more gigs and find ways to be more efficient in your work. Ultimately, the way to succeed will be to streamline as much as possible so that you can reserve your time and attention to showcase your skills.

Matthew Ramirez, Founder, Paraphrase Tool

Inflation Adds Pressure to the Gig Economy

The increasing prices of goods and services are making the gig economy harder to sustain. Based on what I am seeing, it is safer to find a stable job and just do freelance work on the side. Working for a company also allows you to enjoy more benefits and compensation that the gig economy does not offer.

Michelle Siy, Content Writer, Oliver Wicks

More Sustainable for Remote Workers

This is a complicated question because there really is no universal answer. Some gigs are unsustainable. For example, ridesharing often involves vehicle wear and tear and fluctuations outside of driver and operator control that make the work undesirable long-term. However, with the growing demand for remote work and flexibility, there are many gig jobs that are sustainable and even preferable to traditional positions. It is much less mental and physical stress for remote workers to toggle between software vs in-person workers rushing between gigs. Telecommuting gigging is not perfect but tends to be much more stable and comfortable than physical gig work.

Kate Duske, Editor in Chief, Escape Room Data

Gig Economy Needs Regulation

I believe the gig economy can be sustainable, but I think it needs to be more regulated.
The gig economy is based on the idea that workers can choose their jobs and hours with flexibility, but in order for this to be sustainable, workers need to be paid fairly for their work.

Right now, many freelancers are being underpaid for their work or not being paid at all by clients. If freelancers had a better understanding of what they should be charging and what constitutes fair pay, then this could lead to a more stable economy.

Another way to make the gig economy more sustainable is by having more job security for workers who depend on these gigs for their livelihoods. Many freelancers have been left without work after being fired from companies like Uber due to violations of company policies or other issues such as protests against unfair working conditions; some have been unable to find new jobs after losing their jobs because they were working on freelance contracts rather than full-time

Amer Hasovic, Content Writer, Love & Lavender

My Two Cents: Sustainable for Some, Not All

We saw a major freelance boom when the pandemic hit. More people started freelancing or doing their own thing, leaving behind a massive number of job vacancies that companies are still struggling to fill. Some of these roles can certainly go to freelancers. 

However, I don’t think that all freelancers will survive long-term. Successful freelancers have a predictable way to acquire clients, have found the pricing sweet spot, and are investing in their professional development. I believe these are the bare minimum things freelancers should be doing to make their careers more sustainable. Those that are not will eventually be weeded out.

Alli Hill, Founder and Director, Fleurish Freelance

What are your thoughts on the sustainability of the gig economy? Will the bubble burst? Or will freelancers like you and me continue to enjoy a better way to work? Drop your comments below.