An Assessment on the Prospect of Gig Economy to Create Employment Opportunity

Abstract

The study describes a gig economy as a free market system in which enterprises regularly use independent contractors for temporary assignments and where temporary positions are prevalent. The so-called "gig economy" considerably impacts the workplace, seen in every sector of the economy. It has had a profound impact on how people interact with one another at work and has brought about a fundamental change in the way our economic study operates as a whole. Due to the unrivaled advantages of working as a gig economy worker, the number of people who do so will continue to increase. This is because many of the most skilled people opt to work as gig economy workers full-time. Moreover, because employment opportunities in Bangladesh are pretty uncommon, and many educated individuals with degrees still need help finding work, the gig economy will be an excellent option for all people still looking for work. Even while it provides workers with several benefits, such as flexibility, employment, independence, and many more, the gig economy also has a detrimental impact on the working environment inside the firm. The research uses 104 respondents' data, which gathers information on model variables and user demographics. For the research, the study has taken five variables: employment opportunity, labor market conditions, education and skill development, economic conditions, and government regulations. The study treated the employment opportunity as a dependent variable, while the other four were treated as independent variables. The purpose of this research is to find out the current developments in the gig economy and its advantages and downsides, both internationally and in Bangladesh, which have been discussed in this article. Moreover, how it can help create employment opportunities and help the country reduce unemployment.