The Gig Economy Continues to Expand, Reaching Beyond Traditional “Gigs” — HTT Network

The gig economy has been a topic of discussion for several years now, but it seems that it is expanding at an exponential rate. The New York Times recently tweeted about how the gig economy is no longer limited to just drivers or repairmen but also includes retail workers, nurses and even white-collar professionals like lawyers and consultants. This statement implies that more jobs are sliding into the gig ecosystem regardless of whether they seem like “gigs” or not.

The term “gig economy” refers to a labor market characterized by short-term contracts or freelance work instead of permanent jobs. It gained popularity during the Great Recession when many people turned to temporary work as a means of survival. While some experts argue that the gig economy offers flexibility and independence, others believe it can lead to job insecurity with no benefits or protections.

According to recent data from Intuit, freelancers (including independent contractors and on-demand workers) will comprise 43% of the U.S workforce by 2020. This shift towards self-employment is already having significant impacts across various industries.

The Gig Economy Continues to Expand, Reaching Beyond Traditional “Gigs” — HTT Network

Categories: Economic History

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