The GIG Economy: an Emerging Paradigm in the Labor Market

Abstract

The gig economy represents an emerging phenomenon in the contemporary labor market landscape, characterized by the increasing prevalence of independent, temporary, and project-based activities. This disruptive paradigm redefines the traditional relationship between employers and employees, offering flexibility and autonomy to workers but posing challenges regarding job security and social protection. Recent studies show that the majority of gig workers do not receive insurance coverage or social benefits from platforms, and this lack of protection can exacerbate inequalities and vulnerabilities among workers. It is essential for policymakers, employers, and workers to recognize these issues and adopt policies and regulations that balance power between parties and provide adequate protection in the ever-evolving gig economy. Limitations of this study include the research sample and data availability, which may affect the comprehensive understanding of the gig economy's impact on the labor market. CZU: [330.341:004.738.52]:331.5; JEL: E24, J43, O33