The Rise of the Gig Economy and its Impact on the Australian Workforce

The gig workforce has grown rapidly in recent years but knowledge of the segment is limited and questions are emerging about its impact on other sectors and gig workers.

Quantium’s innovative approach involved analysing bank transactional data that gives a unique insight into the sector from a worker and consumer perspective.

The Transaction Data analysis is based on a sample of approximately 1,000,000 gig economy consumers and 8,008 gig workers, making it the largest ever study of gig economy activity in Australia.

The paper seeks to address the current knowledge gap by providing answers to the following questions:

  • What is the size of the gig economy, and how fast is it growing?
  • How is the gig economy impacting the workforce in traditional sectors?
  • What are the economic impacts of the gig economy on its workers?
  • How has the COVID-19 pandemic impacted the gig economy?