Gig economy

The gig economy is a business model built around short-term, freelance or task-based work, called gigs, rather than permanent employment, with companies engaging independent workers for individual jobs instead of hiring staff. Most gig work today is organized through digital platforms that connect workers directly with customers, in areas such as ridesharing and delivery, space and property rental, and freelance services, letting companies avoid costs such as benefits and training while workers gain scheduling flexibility. In the United States about 16 percent of adults reported earning income through gig work as of 2021, a sector estimated at roughly 1 trillion dollars in economic value that year.