New data suggests millennials looking to be their own boss should think strategically about the gig economy.
According to the Bureau of Labor Statistics, there were about 9.6 million self-employed workers in 2016. This number is expected to increase to 10.3 million by 2026. That's a 7.9 percent growth rate, which is slightly faster than the rate projected for all workers.
Some gig economy jobs are growing faster than others, however. Jobs with some of the fastest growth include roles in childcare, light housekeeping and landscaping. These can be perfect for young workers looking to build a business or side hustle quickly since they won't require much training or job experience.
Millennials have struggled to build businesses at the same rates Gen-Xers or Boomers did at their age thanks, in part, to high college debt that makes bootstrapping difficult. The economic downturn in 2008 has also made it harder for today's 20- and 30-somethings to break into careers and build the skillsets and networks entrepreneurs need.