Labour Market - Impact of the Gig Economy
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Last updated 20 Nov 2023
This short video looks at some of the economic impacts of the Gig Economy.
The gig economy is a labour market characterized by short-term, freelance, or contract work, rather than traditional full-time employment. Gig economy workers, also known as "giggers" or "independent contractors," typically have multiple clients or projects at once and are not tied to a single employer. Examples of gig economy jobs include ridesharing drivers, food delivery couriers, freelance writers, and virtual assistants.
The gig economy has grown rapidly in recent years, thanks to the rise of technology and the increased demand for flexible work arrangements. However, it has also come under criticism for offering lower wages and fewer benefits than traditional jobs and for not providing workers with the same protections and job security.