Inflation, tight jobs market send gig economy rates soaring

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Airtasker shares leapt more than 17 per cent in morning trade on Thursday, as the company stands to benefit from high inflation.

Gig economy jobs marketplace Airtasker is set to prosper from higher inflation, with CEO Tim Fung saying its low “input” costs and its alignment with “taskers’” earnings will fuel a new wave of growth.

The Airtasker wage price index, which tracks the prices paid for completed tasks on the marketplace, experienced a sharp increase in the second quarter of the 2022 financial year, and remained elevated in the June quarter.Mr Fung said jobs with noticeable increases in prices in the last few months included deliveries, which had leapt by 10 per cent on average, as well as the price of gas fittings in homes.

“The demand for taskers is increasing, as is the base of taskers. [But], what we’ve seen is there’s been an increase in the supply pressure,” he said.

 

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