GIG economy

The gig economy refers to a labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs. In this model, individuals work as independent contractors or freelancers, often through digital platforms or apps that connect them with consumers seeking specific services. This structure includes roles like ride-sharing drivers, food delivery personnel, graphic designers, and other contract-based workers.

The gig economy offers flexibility for workers who can choose when and where they work, often working for multiple clients or platforms. However, it also often lacks traditional employment benefits such as job security, health insurance, and paid leave.