Gig Workers: A Comprehensive Analysis of the Rise, Challenges, and Future of the Gig Economy

Abstract

The gig economy, defined by temporary contracts, freelance employment, and independent contracting, has seen substantial growth in the global labour market during the last twenty years. Gig workers function independently of conventional full-time employment, enjoying flexibility but sometimes missing access to benefits like job security, healthcare, and retirement plans. This study examines the evolution of the gig economy, analysing the many forms of gig employment, its catalysts, the influence of technology, and its consequences for both workers and employers. The analysis will address the issues encountered by gig workers, such as economic volatility, insufficient legal safeguards, and the ambiguity of employer-employee dynamics. The study will analyse worldwide reactions, regulatory patterns, and the future direction of gig employment considering governmental changes and technology improvements.