Gig Economy

Gig Economy – A gig economy is a labor market where temporary, short-term, or part-time positions dominate, and work is often performed by independent contractors, freelancers, or consultants rather than traditional full-time employees. This model is facilitated by digital platforms and apps that connect workers with clients or customers on a task-by-task basis. Common examples include ride-sharing drivers, freelance designers, delivery personnel, and online service providers.

Key Point: The gig economy provides flexibility and autonomy for workers but often lacks job security, benefits, and long-term employment protections typical of conventional employment.

Example Scenario

Ravi is a freelance graphic designer:

• He gets projects via Upwork and Fiverr.

• Works 20–30 hours per week on multiple projects.

• Chooses clients and sets his rates.

• Income varies each month depending on project availability.

Impact: Ravi enjoys flexibility but does not receive employee benefits like health insurance or paid leave, illustrating both the opportunities and limitations of gig work