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Growing Number of Independent Workers and the Short-term Workforce Embracing the Gig Economy

 [PRESSWIRE] PALM BEACH, Florida, August 10, 2017 --The gig economy continues to be one of the most talked about new economies across the globe leading to large companies and tech giants to pour millions into the development of enhancing human capital and leveraging rising momentum of freelance workers along with the benefits they can provide the workforce.

The Bureau of Labor Statistics estimates that, in 2017, as many as 40 percent of the U.S. workforce is considered contingent. This figure is expected to grow to 50 percent by 2020 and experts are forecasting the gig economy to only continue to grow over the coming years. Companies with focus on the growth and opportunity the gig economy offers include: ShiftPixy, Inc. (NASDAQ:PIXY), Groupon, Inc. (NASDAQ: GRPN), Google. (NASDAQ: GOOG), GrubHub Inc. (NASDAQ: GRUB) and Amazon.com, Inc. (NASDAQ: AMZN).  

ShiftPixy, Inc. (NASDAQ: PIXY), an on-demand human capital platform that syncs work opportunities from shift-based employers with ready-for-hire workers, today announced that it will open its first regional office in New York City'shistoric Grand Central Station. This regional office will house local sales and client support staff. This expansion represents a key development for the Company as it continues to establish itself as the premier workforce management platform that meets the needs of the gig economy. Read this and more news for ShiftPixy at http://www.marketnewsupdates.com/news/pixy.html

ShiftPixy's human capital management services address formidable challenges for businesses that rely heavily upon a contingent workforce, delivering a revolutionary platform for workforce management that helps them navigate regulatory mandates, minimize administrative burdens, and connect with a capable, ready-for-hire workforce.

"New York City is a crucial market for ShiftPixy, and the opening of our office here marks the first step in our ambitious national expansion efforts," said ShiftPixy's Co-founder and CEO, Scott Absher. "Buoyed by the city's 24-hour nature, and the economic impact of its leisure and hospitality industries, the gig economy here is thriving. By establishing a presence in New York City, we are primed to meet the needs of its rapidly expanding contingent workforce, while also broadening our client reach and support throughout the entire Northeast region."

One recent study estimates that the contingent workforce currently accounts for approximately 34 percent of all U.S. workers, and that figure is expected to increase to 43 percent by 2020. Mr. Absher added, "We are confident that ShiftPixy's seamless platform will increasingly become an essential tool for employers seeking to maximize business efficiency, while providing workers with access to flexible earning opportunities that offer robust employment and health benefits."

Additional Gig Economy developments from around the markets:  

In article recently published on CityA.M.comGoogle's (NASDAQ: GOOG) investing millions in research on the gig economy and future of work - Google has promised $50m to help people adapt to new ways of working brought about by technology, and said it will also fund new research into the future world of work. The tech giant said a third of jobs in the future are likely to require skills which are uncommon today. It added that more jobs are likely to be independent as demographics are change, and cited existing research on the future of work and economic figures. The fresh cash from Google's philanthropic arm Google.org will go toward non-profits and other groups, 'to help people prepare for the changing nature of work'.

Amazon's (NASDAQ: AMZNNew Home Services Is Great For Gig Economy Workers - Amazon officially opened its Home Services program today to let folks shop for personal in-home services, from appliance installation to academic tutoring to automotive maintenance. Just drop a service in your cart like you would with any other product on Amazon, schedule a time, and pay when the service is done, says the The Verge. But instead of contracting out to specialists on its own, Amazon will simply act as the platform for the transactions. In so doing, Amazon will let specialists set their own prices, likely allowing Home Services to survive the legal onslaught that's currently besieging the gig economy. Source: FastCompany.com  

Groupon (NASDAQ: GRPN) is turning over much of its food-ordering and delivery business to Grubhub (NASDAQ: GRUB). Groupon's hungry deal-seekers will be able to order from restaurants in Grubhub's stable of 55,000 restaurants directly from the Groupon platform. Grubhub, which has built out a large delivery component through multiple acquisitions, will provide the order and delivery services to Groupon restaurants. The deal brings Groupon's customer base of 31.6 million to Grubhub. Groupon gets access to 55,000 restaurants and 1,100 Grubhub markets, compared with about 40 cities Groupon had from its acquisition of Baltimore-based OrderUp two years ago.

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Category: 
Business and Finance
Date: 
Thursday, August 10, 2017
Categories: 
Economy
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