Wednesday, March 31, 2021

What is the gig economy?

Despite its important these days, the gig economy is often poorly understood. The term is becoming a catch-all for anyone in an atypical line of work. It's important to clearly define the gig economy and distinguish its workers from self-employed freelancers. That way, we can better protect gig workers' right, while also balancing the interests of new business and the public.

The gig economy is the trend of using online platforms to find small jobs, often completed immediately on-demand. The growth of the gig economy has been profound. It seems to have fundamentally changed our way of working.

Much like a freelance actor or musician goes from gig to gig, workers in the gig economy are sourcing one job at a time. They usually do this by logging into an app or clicking through a website. Each job they find and accept is a gig.

The gig economy enables services like transportation and delivery at the tap of a button. We have all participated whenever we hailed a ride or ordered delivery at home. Companies that offer a platform for such services are expanding globally. Uber, for examle, can be accessed in more than 500 cities around the world. It is acclaimed as a unicorn which refers to a start-up valued at over a billion dollars.