gig economy

MaryW commented on the word gig economy

Growing numbers of Americans no longer hold a regular “job” with a long-term connection to a particular business. Instead, they work “gigs” where they are employed on a particular task or for a defined time, with little more connection to their employer than a consumer has with a particular brand of chips. Borrowed from the music industry, the word “gig” has been applied to all sorts of flexible employment (otherwise referred to as “contingent labor,” “temp labor,” or the “precariat”). Some have praised the rise of the gig economy for freeing workers from the grip of employers’ “internal labor markets,” where career advancement is tied to a particular business instead of competitive bidding between employers. Rather than being driven by worker preferences, however, the rise of the gig economy comes from employers’ drive to lower costs, especially during business downturns. Gig workers experience greater insecurity than workers in traditional jobs and suffer from lack of access to established systems of social insurance.

April 6, 2016

MaryW commented on the word gig economy

There are a lot of names for it: the "sharing economy," the "gig economy" and the "on-demand economy" seem to be the three most popular. But the most precise description of the new labor relationships being enabled by digital technology may actually be, in the U.S. at least, the "1099 economy."

The 1099-MISC is the form that businesses, nonprofits and government agencies have to fill out when they pay someone $600 or more a year in nonemployee compensation.

April 6, 2016