The gig economy refers to an economic category of temporary work where employment is on an impermanent and limited basis. In the creative, acting and music industry, the term “gig” was often used to reference one-time events or engagements.
Currently, the gig economy refers to short-term, temp work, or independent contractor jobs that encompass a wide variety of skills and industries. People who perform gigs may refer to themselves as freelancers or independent contractors.
Unless directly employed by the company, people who work in the gig economy are not employees of the companies for which they perform services.
Most people who work in the gig economy may cite the ability to supplement income and the flexibility and variety of work available. As a gig worker, you set your own hours and able to choose the type of work. Typically, workers are not committed to a single company and do not receive traditional employee benefits.
The gig economy enables professionals and others to accept gigs, shifts or assignments on their own. It also includes people who are employed full-time but perform gigs during their free time.