realestate

Long Island's gig economy fueled by real estate and transportation sectors

Real estate dominated the Island's economy with over 55,000 self-employed individuals.

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    Gig workers and self-employed individuals on Long Island have boosted the local economy, generating over $25.25 billion in income from sales and revenue in 2023. This includes freelancers such as delivery drivers, landscape workers, and real estate agents who are sole proprietors with no paid employees. Gig workers make up approximately 86.4% of all nonemployer establishments on Long Island, which is the most comprehensive public source of statistics on the gig economy.

    The number of registered unincorporated businesses on Long Island has increased by 23.1% since 2015, reaching 327,000 in 2023. Real estate was the single-largest sector with over 55,000 registered unincorporated businesses, generating nearly $7 billion in revenue in 2023. This is a reflection of Long Island's skyrocketing home prices.

    The transportation and warehousing sector has grown at the greatest rate for gig workers, with a 270% jump in the number of registered unincorporated businesses since 2015. This includes taxi service providers like Uber and Lyft drivers, food delivery agents, tour guides, and others. The professional services sector is the second-largest self-employed sector on Long Island, including lawyers, accountants, photographers, tutors, and wedding planners.

    The construction sector has also seen a significant increase in revenue, with a 53% jump from $1.38 billion in 2015 to $2.11 billion in 2023. This is attributed to rising home prices and the growing cost of maintaining one. The National Association of Home Builders reports that construction costs have increased from 60.8% of the average price of a new home in 2022 to 64.4% in 2024.

    Long Island's congressional delegation has emphasized bipartisanship, with Representatives Tom Suozzi and Laura Gillen frequently using the term in their press releases. However, Republican Representative Andrew Garbarino uses the term less often, despite winning his election with a significant margin of votes.

Long Island gig economy driven by real estate and transportation industries.