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Steady, a groundbreaking platform building a better future for America's workforce, today unveiled its inaugural Steady Gig Employment Index that highlights never before revealed earnings data for one of America’s fastest growing employment classes - the gig worker.
As part of Steady’s growing commitment to today’s gig employment worker, the Steady Gig Employment Index highlights proprietary earnings data from tens of thousands of gig workers who use the free Steady Incomer Tracker to help them better understand their income and make better decisions on how to spend their time amongst their sources of income.
In this first iteration, the Steady Gig Employment Index tracks average monthly income by MSA and employer from January 2017 through the end of July 2019. Select highlights include:
“While $624 might not sound like a lot of money per month, that’s extra money for rent or mortgage, a car payment, groceries, savings towards retirement, saving towards a large purchase, or extra income they can put aside for a rainy day, retirement or a family vacation,” said Steady CEO Adam Roseman.
He added, “The move of businesses toward on demand labor to drive efficiencies creates consistent income challenges for today’s worker and Steady is working hard to build a platform to mitigate these challenges. With the changing nature of work and increased earnings unpredictability, it is important to be registered for one or more on demand platforms to be able to earn. Roughly 36% of American workers participate in the alternative work economy, having more than one source of income, with some working two or three jobs to pay the bills and save for the future. We created the Steady Gig Employment Index so that workers can have greater information to inform their decisions around the nature of how they work.”
According to a recent NPR/Marist poll, today 1 in 5 jobs in America is held by a contract worker, and that number is climbing.
Steady users earn more than $4,000 per year on average after they become a member of the Steady community, which has more than 1 million registered users in approximately its first year of operation.
In addition to the Steady Gig Employment Index, Steady is empowering today’s gig worker in a variety of ways:
Led by Propel Venture Partners, Flourish Ventures and Clocktower Technology Ventures, and backed by former NBA star Shaquille O’Neal, Steady raised $9 million in Series A funding last year and was previously seed financed by Loeb Enterprises. Earlier this year, Steady joined the World Economic Forum’s (WEF) Centre for the Fourth Industrial Revolution and was selected as one of the cohort companies to participate in Common Cents Lab’s annual cohort, supported by MetLife Foundation and Blackrock. As of August 2019, more than 1 million American workers have registered for an account with Steady.
Founded in 2017, Steady is building a life-changing platform that puts tools into the hands of American workers to help them solve their increasing income challenges caused by wages not keeping up with costs of living, the reduction of available work hours at employers due to their driving efficiencies and future job loss due to automation. Steady makes it easier than ever for workers to fill their income gaps, gain insights into their income and improve their overall financial well-being. As of June 2019, the Steady app has been downloaded more than 1.2 million times.
To join the ever-growing Steady community, Members can improve their income by downloading the free app from the App Store and Google Play. Employers interested in partnering with Steady can contact Steady at [email protected].