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The GIG economy is a temporary employment economy consisting of freelance and self-employed. People can choose what time to work on their own and do not need to be tied to employers permanently. GIG economy workers can work in a variety of fields, from driving services (such as Uber), and food delivery (such as Grab Food), to writing content, graphic design, and counseling.
One of the most important advantages of the GIG economy is work flexibility. Workers can choose their work hours at their own convenience, allowing them to better manage their personal lives and work.
Working in the GIG system allows workers to generate income from multiple sources, whether they are working regularly, working as a freelancer, or working in their free time from studying or other activities.
The GIG economy provides workers with access to a wide range of job opportunities that may not be found in regular jobs, especially in an era when work can be done remotely.
One of the major disadvantages of the GIG economy is that workers often experience income instability. Temporary work does not guarantee a certain income. Workers may face a time when there is no work or income decreases.
Most workers in the GIG economy do not have benefits such as health insurance or vacation, which makes them responsible for medical expenses and personal expenses.
Self-employment can make workers feel isolated due to a lack of interaction with their peers. GIG working can affect mental health and quality of life.
The GIG economy is likely to continue to grow as labor market demand changes. Meanwhile, digital technology makes it easier to connect workers and employers, especially in the aftermath of the COVID-19 outbreak, which has led to more people turning to online services.
In addition, the development of a digital platform will provide workers with access to a wider range of work opportunities. Understanding the rights and responsibilities of GIG workers will reduce disadvantages and create a better working environment.
The GIG economy is a change in working style that presents both opportunities and challenges. Workers in this system can enjoy flexibility and freedom in work but face future instability and lack of benefits. The development and adaptation of the GIG economy will greatly affect the way we work and live.
References from
investopedia / techtarget / corporatefinanceinstitute
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