Gig Economy

The gig economy is reshaping how people work, offering flexibility but also new challenges. It includes freelance, contract, and on-demand jobs. This guide helps you understand what it is and how it could affect you.

What Exactly Is the Gig Economy?

The gig economy is a labor system where companies hire independent workers for short-term tasks or projects. Think of it as temporary jobs or “gigs” instead of traditional, long-term employment. Workers usually don’t have a single, steady employer. Instead, they find various small jobs.

In this setup, workers are typically independent contractors. They aren’t regular employees who get a steady paycheck and benefits from one company. They work on specific projects for different clients or through digital platforms.

For example, someone might drive for Uber for a few hours, then do some freelance writing online, and then maybe deliver food through DoorDash. Each task is a separate “gig.” This is very different from having a full-time job with benefits like health insurance and paid time off.