1. GIG ECONOMY
IS THE GIG ECONOMY THE FUTURE?
Submitted to :
TANYA SOIN GAURAV
2. DIFININGTHE GIG ECONOMY
A 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.
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Variation in the task
Flexible working hour
Working from anywhere
Higher Income Potential
3. HOW BIG IS GIG ECONOMY?
According to the guardian, in the world of 'Uber' and
'deliveroo', an estimate number of 15 million people are
working to or more jobs. Example of these Freelance worker
or sometimes known as 'slashes' may be bloggers and charity
workers
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• 15 Million freelance workers across various sectors
• 90 Million jobs could the added by the gig economy in
the near future
4. WHAT SERVICE ARE GIG WORKERS
PROVIDING?
• Providing driving and delivery service
16%
• Provides skilled manual or personal
service 33%
• Provide professionals, creative or
administrative service 59%
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7. 7
• Flexible: Higher flexibility in work
leverages the labour productivity for
freelancers
• Innovation: Expertise in their respective
area and skills enable freelances to
evolve newer innovation
• Speed: Due to increased work efficiency
and expertise, freelancers can work
Quicker and easier
• Benefits to the wider economy create
jobs and raise GDP
• Freelancers work with multiple buyers
and disclosure of confidentiality or
work increase the risk
• Higher level of dissatisfaction in
freelancers due to lower benefits and
no paid levels
• Weakens bargaining power for
companies in the gig economy and
need to focus on social security for
freelancers
PROS & CONS OF GIG ECONOMY
Pros Cons
8. THE IMPACT OF COVID-19
Financial situation
• 68% have no income
• 89% gig workers and self-employed
look for a new source of income
• 8/10 gig workers could not cover their
household expenses with their current
pay
• 1/2said they had to stop working
because of the COVID 19 pandemic
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