I. Understanding Gig Economy

The gig economy is a sector of the job market where people, or gig workers, perform on-demand tasks. It has radically altered how many individuals conceive of and participate in work, having broad implications for labor laws and policies. However, the concept is continuously evolving and encompasses a wide range of work arrangements that are often part of a larger, complex labor market.

Essential Aspects of the Gig Economy

The gig economy revolves around independent contractors or freelancers, who provide various services ranging from food delivery to software development. Astonishingly, almost a third of US workers participate in some form of gig work. These tasks, traditionally performed by full-time employees, are outsourced to independent workers via digital platforms or online platforms. This modality offers increased flexibility and an alternative source of income. However, it also presents risks, such as instability, which are often shouldered by the workers themselves without adequate protections. read more