Gig economy

The gig economy is a way people work by taking short-term jobs instead of permanent ones. These workers, called gig workers, often do freelance or side jobs.

 How it works 
The gig economy includes:
 Companies that offer short-term jobs.
 Workers who take these jobs.
 Customers who use these services.

Many gig jobs are found through apps or websites (like Uber or Airbnb). Instead of a fixed salary, gig workers get paid per job or "gig." The term "gig" comes from musicians doing one-time performances.

 Why companies use gig workers 
Companies prefer this system because they:
 Don’t have to pay for benefits like health insurance or sick leave.
 Save money on office space and equipment.
 Can hire skilled workers for specific tasks without a long-term commitment.

 Why workers join the gig economy 
 Flexibility: They can choose when and where to work.
 Work-life balance: They have more control over their schedules.
 Extra income: Some do gig work alongside their regular jobs.

 Challenges for gig workers 
Some challenges faced by gig workers include:
 No job security or benefits.
 Some clients refuse to pay for work.
 Companies may claim ownership of creative work without fair pay.

 Examples of gig work 
 Ridesharing (Uber, Lyft)
 Food delivery (DoorDash, Instacart)
 Online payments (PayPal)
 Freelance services (writing, design, consulting)
 Rental services (Airbnb)

 Growth of the gig economy 
 In 2016, gig work grew by 50% in 10 years.
 By 2021, 16% of U.S. adults had earned money through gig jobs.
 In 2018, 150 million people in North America and Europe were gig workers.
 The gig economy is worth $1 trillion in the U.S.

 Biggest gig economy companies 
Some of the largest companies in the gig economy are:
 Uber (ridesharing)
 Airbnb (home rentals)
 DoorDash (food delivery)
 PayPal (online payments)
 Shopify (e-commerce)

The gig economy is growing steadily and changing how people work. However, legal protections and fair pay are still big concerns for many gig workers.

 References 

Category:Platform economy
Category:Social networks
Category:Peer-to-peer
Category:Business models
Category:Information Age