Unemployment has always been a leading economic indicator, and by many accounts, the economy is in for a couple of years of recessionary behavior. Thank goodness for gigs.
Gigs, as in the gig economy, which has organized itself around mobile apps connecting the unemployed, underemployed and those looking for a side hustle with appropriate work.
PYMNTS’ latest Provider Ranking of Gig Economy Apps shows health in gig work that’s absent from the full-time job world at present, proving the utility of an on-demand workforce.
The Top 5
There’s no order change in the top five ranked gig economy apps from July to August, but that doesn’t mean there’s an absence of news or activity behind each contender.
At No.1 again is DoorDash, which just announced long-awaited IPO plans, followed at No. 2 by Uber Driver, the rideshare platform that’s been getting into logistics with ride-hailing remaining depressed. No. 3 Instacart holds fast on the strength of new grocery partnerships like its recent pact with Walmart on same-day grocery delivery. No. 4 ranked gig app Fiverr had a great Q1, with a 44 percent increase in revenue year over year to hit $34.2 million. Closing out the Top 5 at No. 5 is Freelancer, which is helping solve cross-border gig payments, along with getting those gigs.
The Top 10
With not a hair out of place month-to-month, the new Provider Ranking of Gig Economy Apps shows the same consistency in the Top 10 gig apps as in this month’s Top 5 chart-toppers.
Coming in at No. 6 again is hourly staffing app Snagajob with Lyft at No. 7 as ride-hailing services grapple with state employment law especially in California. Charting at No. 8 this month is Upwork, whose new subscription plan is gaining admirers. At No. 9 is Rover, the pet services app, and closing out the Top 10, an upset. Coming in at No. 10 this month is TaskRabbit, a mobile marketplace for freelance labor, pushing Grubhub out of the Top 10.