gig-economy

Vocabulary Word

Definition

'Gig-economy' is a way of working that's based on people getting paid for each separate task, or 'gig', they do, instead of having a regular salary. It's flexible, but can be unpredictable.

Examples in Different Contexts

The gig economy has had a significant impact on labor dynamics, offering both flexibility and uncertainty. An economist might discuss, 'The gig economy's growth has raised questions about worker rights and social safety nets.'

Practice Scenarios

Tech

Scenario:

Our development workload has been spiking, but only temporarily. It wouldnt make sense to overstaff our tech team.

Response:

It sounds like a scenario where leveraging the gig economy would be helpful. Contracting freelance developers could be an option.

Public-Policy

Scenario:

Tackling modern labor rights issues is complicated by employment patterns that don't fit the traditional mold. What are some potential solutions?

Response:

Perhaps we can develop policies that offer flexible protection frameworks for workers in the gig economy.