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Gig Economy

A labour market characterised by the prevalence of short-term contracts or freelance work, as opposed to permanent jobs.

In the gig economy, instead of a regular wage, workers get paid for the "gigs" they do, such as a food delivery or a car journey. Workers in the gig economy are classed as independent contractors. A gig economy undermines the traditional economy of full-time workers who rarely change positions and instead focus on a lifetime career.

Why now? Recession in some economies, internet as a business connector, entrepreneurial spirit, not everyone wants to be an employee, consumer want it cheap,

The Bottom Line, Consumers seeking cheap goods, freelancers looking to turn their gigs into full-time jobs, and the misunderstanding of what the gig economy is have given the term a bad name. For people looking to make some money on the side or those who simply don’t want a regular job, the growth of the gig economy is something to be celebrated as it means more opportunities for you to increase revenue. 


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