One of the latest editions of CNBC’s Mad Money with Jim Cramer and Upwork CEO Hayden Brown confirmed what all knew: the gig industry isn’t only pandemic-proof, but also a highly effective cure against the biggest trouble we have to deal with right now – unemployment.
We couldn’t wish for a better example than Upwork itself. If 2019 was the year of Upwork stocks’ downfall (down 37%), then the last month alone was a period of unparalleled recovery (up 44%).
NASDAQ: Upwork Inc (UPWK)
The most intriguing change is related to the number of available jobs on Upwork during the same time period. According to Joshua Fruhlinger and his article published on Thinknum:
The following graph perfectly illustrates this tremendous change over a relatively short period of time:
Jim Cramer couldn’t hide his excitement about the potential of the gig economy, having in mind that we’re having “the highest unemployment rate since the Great Depression.” Hayden Brown emphasized the importance of