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February 2022 - The gig economy represents a significant and growing segment of the labor market, but its flexible and often supplemental nature makes it challenging to analyze. This webinar provides a clear methodology for quantifying the economic impact of income earned by gig workers using IMPLAN. Join the IMPLAN Education Services team as they define the gig economy and explain why a Household Income event is the most effective tool for analysis. The session features a compelling comparative analysis that models $10 million in new gig economy income for two different groups: workers supplementing a full-time salary and students using it as their primary income. Discover why the results differ and learn how to use the Social Accounting Matrix (SAM) to understand the underlying spending, saving, and tax patterns of various household income groups. TIMESTAMPS / CHAPTERS: 0:00 - Introduction 4:45 - What is the Gig Economy? 8:00 - The Challenge of Capturing Gig Work in Standard Industries 9:00 - Recommended Method: Using a Household Income Event 11:45 - Live Demo: Setting Up a Gig Economy Analysis 12:45 - Case 1: Modeling Supplemental Income ("Hubert") 16:30 - Case 2: Modeling Primary Income ("Alexis") 18:30 - Using the Scaling Feature for Events 20:00 - Comparing the Results 23:00 - Why Do the Results Differ? Taxes and Savings 25:00 - Exploring the Social Accounting Matrix (SAM) in Region Details 32:45 - Final Conclusions 34:00 - Live Q&A Session WHAT YOU'LL LEARN: A clear definition of the gig economy and its various forms, including electronically mediated employment (EME). Why a Household Income event is the best practice for modeling the economic impact of gig workers. A step-by-step process for setting up a comparative analysis for different types of gig workers. How spending and savings patterns differ across household income brackets and why this leads to different economic impacts. How to use the Social Accounting Matrix (SAM) to explore the underlying financial flows of households in your region. ABOUT IMPLAN: IMPLAN provides the most trusted economic impact analysis software and insights in the U.S. Our platform allows economists, planners, and analysts to quantify the entire economic impact of any project or policy in minutes. Learn more about IMPLAN: https://implan.com/ Request a Demo: https://implan.com/demo-request/ Subscribe for more expert insights: / @implancloud #IMPLAN #GigEconomy #EconomicImpact #HouseholdIncome #LaborMarket