what is gig work

what is gig work

1 year ago 66
Nature

Gig work refers to income-earning activities outside of standard, long-term employer-employee relationships. Gig workers are independent contractors, online platform workers, contract firm workers, on-call workers, and temporary workers. They enter into formal agreements with on-demand companies to provide services to the companys clients. Gig work is characterized by its flexibility, allowing workers to choose when and where they work, which clients they take on, and even set their rates in some situations. Gig work can be project-based or temporary, and workers are hired to complete a particular task or for a certain period of time. Gig work is also location-independent, allowing for a lifestyle of travel and work anywhere with internet connectivity. The gig economy is a labor market that relies heavily on temporary and part-time positions filled by independent contractors and freelancers rather than full-time permanent employees. Gig workers gain flexibility and independence but little or no job security. The gig economy is expected to produce a revenue of $455 billion by 2024, and the industry is estimated to employ 7.7 million workers, with a projected workforce of 23.5 million by 2029–30.

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