• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Advertisement
  • Home
  • Economy
  • Foreign Affairs
  • Science & Tech
  • Environment
  • Law & Policy
  • History
No Result
View All Result
  • Home
  • Economy
  • Foreign Affairs
  • Science & Tech
  • Environment
  • Law & Policy
  • History
No Result
View All Result
  • 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
JournalsOfIndia
No Result
View All Result
Home Economy

Gig Economy

October 8, 2020
in Economy
Reading Time: 2min read
0
Gig Economy
98
VIEWS
Share on TelegramShare on Facebook

In News

In a gig economy, temporary, flexible jobs are commonplace and companies tend toward hiring independent contractors and freelancers instead of full-time employees. A gig economy undermines the traditional economy of full-time workers who rarely change positions and instead focus on a lifetime career.

Features of Gig Economy

  • The gig economy is based on flexible, temporary, or freelance jobs, often involving connecting with clients or customers through an online platform.
  • The gig economy can benefit workers, businesses, and consumers by making work more adaptable to the needs of the moment and demand for flexible lifestyles.
  • At the same time, the gig economy can have downsides due to the erosion of traditional economic relationships between workers, businesses, and clients.
  • Those who don’t engage in using technological services such as the Internet tend to be left behind by the benefits of the gig economy.
  • Cities tend to have the most highly developed services and are the most entrenched in the gig economy.
  • There is a wide range of positions that fall into the category of a gig. For example, adjunct and part-time professors are contracted employees as opposed to tenured or tenure-track professors. 

Gig Workers

  • Traditional workers have a long-term employer-employee relationship in which the worker is paid by the hour or year, earning a wage or salary.
  • Outside of that arrangement, work tends to be temporary or project-based; workers are hired to complete a particular task or for a certain period of time.
  • In some cases, they have an employer, but the company that pays them is different than the one at which they work.
  • These types of arrangements are often called alternative or nonstandard work arrangements, and may include freelancing, temp agency work, self-employment, and subcontracted work.
  • Not only may workers lack protection and fair pay, but the roles aren’t as flexible as they seem, as workers may be incentivized or pressured to work when the companies need them.
  • On top of that, workers may not be paid benefits such as holiday or sick pay, and reports suggest some aren’t making minimum wage.
Source: Investopedia
Tags: Prelims

Related Posts

India innovation Index 2020

India innovation Index 2020

January 20, 2021
Trade Receivables Discounting System (TReDS)

Trade Receivables Discounting System (TReDS)

January 20, 2021
Credit Ratings

Credit Ratings

January 19, 2021
Prarambh -Startup India International Summit

Prarambh -Startup India International Summit

January 16, 2021
Reforms in Mining

Reforms in Mining

January 15, 2021
RBI sets up Working Group on Digital Lending

RBI sets up Working Group on Digital Lending

January 15, 2021
What are Debentures?

What are Debentures?

January 15, 2021
Modified Scheme to Enhance Ethanol Distillation Capacity

Modified Scheme to Enhance Ethanol Distillation Capacity

January 15, 2021
National Migrant Information System (NMIS)

National Migrant Information System (NMIS)

January 14, 2021
Toy Manufacturing Clusters

Toy Manufacturing Clusters

January 14, 2021
Please login to join discussion

Browse by Category

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society

Browse by Tags

AIR Big Picture GS-1 GS-2 GS-3 GS-4 Kurukshetra Mains News Paper PIB Prelims RSTV Yojana
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society

Browse by Tag

AIR Big Picture GS-1 GS-2 GS-3 GS-4 Kurukshetra Mains News Paper PIB Prelims RSTV Yojana

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • Prelims Snippets
  • Mains Articles
  • Economy
  • Society
  • Foreign Affairs
  • Science & Tech
  • Environment
  • Agriculture
  • History
  • Law & Policy
  • Security
  • Course Portal
  • Prelims Test Portal
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In