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What is concerning is that out of those gig workers surveyed, close to 40% were the primary breadwinners for their family. Moreover, 66.2% of gig workers did not have any savings, while 8.2% were unable to save, despite aspiring to do so.
Data from Gig Pulse, a report by LEAD at Krea University and Karma Life, and MoSPI recently revealed that India’s average gig worker earns far less than a regular salaried urban male. As per the report, on an average, a gig worker made Rs 18,611. This was far less than the salary range of urban male, who earned anywhere between Rs 21,500 to Rs 22,800. However, this figure was slightly higher than what the rural salaried male earns, which is about Rs 16,500.
What is concerning is that out of those gig workers surveyed, close to 40% were the primary breadwinners for their family. Moreover, 66.2% of gig workers did not have any savings, while 8.2% were unable to save, despite aspiring to do so.
While 25% gig workers saved for a rainy day, the same figure saved up to invest in their children’s education. Entrepreneurial ambitions came far and few in between, with only 11.2% saving up to start their own business.
Even insurance coverage in gig workers painted a desolate picture. While 73% of them did not have one, 40% were lacking insurance due to their inability to do so.
Food delivery guys on the radar
However, a specific segment of these gig workers has been left particularly vulnerable to rising inflation. Data from National Council of Applied Economic Research showed that between 2019-202, the combined whip of increasing inflation and fuel prices have rendered many food delivery workers financially short-changed and unable to meet their household expenses.
As per the report, food delivery executives working long hours i.e. 11 hour shifts saw their real income dip 11.1%, from Rs 13,470 in 2019 to Rs 11,963 in 2022. The situation, however, remained relatively unchanged for workers in the shorter, 5-hour shift. Their real income dipped from Rs 7,999 in 2019 to Rs 7,157 in 2022.
What strikingly stood out in the report was the serious qualification gap between what the gig worker possessed and what their job demanded. Around 32% of the 924 workers surveyed were found to have a graduate degree. About 3.6% of such gig workers also had a technical diploma.