Meaning of gig economy | Babel Free

Definitions

That part of the economy consisting of people who work in a transient, contract or self-employed capacity, as opposed to being permanent employees of a business.

Equivalents

Examples

“But suddenly, the debate has imploded; the gig economy may be a myth. A new survey by the Bureau of Labor Statistics found that, in 2017, the share of workers in “alternative employment arrangements” (gig jobs and other) was 10.1 percent of total employment, almost exactly what it was in 2005 (10.7 percent) and 1995 (9.9 percent).”

“Second, there is the precariat. These are the young and educated voters caught in the gig economy, who see no career security ahead.”

“California legislators approved a landmark bill on Tuesday that requires companies like Uber and Lyft to treat contract workers as employees, a move that could reshape the gig economy and that adds fuel to a yearslong debate over whether the nature of work has become too insecure.”

CEFR level