Assessing the Gig Economy and its Impact on Filipino Career Paths

Abstract

The Gig Economy and Digital Freelancing have revolutionized the labor market, creating new opportunities and challenges for workers and businesses alike. This study explored the impact of the Gig Economy on the career paths of Filipino professionals. Through the examination of the relationship between the demand for freelancers and workforce saturation in the freelancing industry, the research shed light on how these variables shape the career intentions of professionals across different generational cohorts, such as Generation X, Millennials, and Generation Z, in the dynamic labor market of the Philippines. Despite perceived challenges related to market saturation, the study showed that workforce saturation holds no sway over career intentions, while specific labor demand sub-variables have an impact. Overall, the study determined that age is the main determinant that influences interest and engagement for the freelancing industry. The study also emphasized freelancing's global accessibility and the observed shift towards full-time engagements, signaling freelancing's evolution into a lasting and prominent career path in the years ahead.