What is the Gig Economy?
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The Gig Economy is characterized by short-term contracts or freelance work as opposed to permanent jobs. It often involves connecting with customers through an online platform. Example: Delivery boys of app-based food, consultants, bloggers.
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According to the World Bank, around 6% of the world’s labor force is part of the gig economy.
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Globally, more than half of gig jobs are driven by demand for low-skilled, low-wage work. Only around 30% of them require specialized skills and expertise.