There Are Probably More Gig Workers Than Counted in U.S. Survey

New U.S. Labor Department estimates indicated that 10.1 percent of Americans in May 2017 were on alternative work arrangements that could be classified as part of the gig economy, a decline from 10.7 percent in May 2005, reports Bloomberg . This slippage was mainly due to a decrease in the share of people identifying as independent contractors, which fell to 6.9 percent from 7.4 percent in 2005. Analysis showed that Americans 55 and older made up a higher percentage of independent contractors in 2017 versus 2005, suggesting baby boomers are accepting such positions. The labor-force participation rate among people 65 and older was 19.8 percent last month, compared with 15.2 percent in May 2005. Over 33 percent of independent contractors were 55 or older in May 2017, while the age group comprised less than 25 percent of workers in traditional arrangements. "This reflects the fact that the likelihood of employed persons being independent contractors increases with age," the department said.