The Gig Economy and Labour Market Dynamics

Shumeng Li

doi:10.54254/2754-1169/61/20231285

Research Article

Open access

Published on 28 December 2023

Download pdf

Li,S. (2023). The Gig Economy and Labour Market Dynamics. Advances in Economics, Management and Political Sciences,61,275-281.

Export citation

The Gig Economy and Labour Market Dynamics

Shumeng Li *^,1,

¹ Ulink College of Shanghai, Shanghai, 201615, China

* Author to whom correspondence should be addressed.

https://doi.org/10.54254/2754-1169/61/20231285

Abstract

The gig economy, which is defined as transient and adaptable work arrangements facilitated by digital platforms, has experienced unprecedented growth in recent years, profoundly altering labor market dynamics. This profound transformation has introduced a multitude of repercussions for workers, simultaneously offering both opportunities and challenges. In one aspect, it entails providing individuals with heightened autonomy, the opportunity to cultivate multiple income streams, and an improved balance between work and personal life, thereby enabling them to autonomously shape their career paths. Conversely, increasing concerns on job security, workers’ rights and protection, and employment benefits arouse discussions of economic welfare of gig workers. For businesses, the gig economy represents a transformative force, promoting cost-effective, on-demand labor while necessitating responsive strategies to manage a decentralized and flexible workforce. As a signal of a new era in labour market dynamics, gig economy has significant impacts on the broader labour force and traditional employment patterns. Grappling with of crucial task, policymakers are in urgent need of finding a balance that preserves the rights and finance security of the labour force without mitigating enthusiasm of development and economic prosperity. Comprehending the multifaceted influences of the gig economy is paramount in formulating policies, thereby building a labor market that embraces opportunities and challenges arising from this transformative change and ultimately facilitating a future work of greater equity and adaptability.

Keywords

gig economy, flexibility, labour protection, labour market

View pdf

References

[1]. Zippia. "23+ Essential Gig Economy Statistics (2023). Definitions, Facts, And Trends On Gig Work" Zippia.com. Feb. 16, 2023, https://www.zippia.com/advice/gig-economy-statistics/.

[2]. Lepanjuuri, Katriina, et al. (2018.) “The Characteristics of Those in the Gig Economy.” Department for Business, Energy and Industrial Strategy, Feb.

[3]. Collins, B., Garin, A., Jackson, E., Koustas, D., & Payne, M. (2019). Is gig work replacing traditional employment? Evidence from two decades of tax returns. Unpublished paper, IRS SOI Joint Statistical Research Program.

[4]. The Evolving Role of Gig Work during the COVID-19 Pandemic. (n.d.). NBER. Retrieved September 5, 2023, from https://www.nber.org/digest/20238/evolving-role-gig-work-during-covid-19-pandemic

[5]. Aleksandric, M. (2023). 20+ Gig Economy Statistics for 2023: The State of Gig Work. FinMasters. Retrieved August 27, 2023, from https://finmasters.com/gig-economy-statistics/?gclid=Cj0KCQjw6KunBhDxARIsAKFUGs_IeZUEf6GAdwztdSdjY_pWpY0FlCnR-wXNKKAoXnseQiNdwYVml0AaAp8aEALw_wcB#Key-Findings

[6]. Aleksandric, M. (2023). 20+ Gig Economy Statistics for 2023: The State of Gig Work. FinMasters. Retrieved August 27, 2023, from https://finmasters.com/gig-economy-statistics/?gclid=Cj0KCQjw6KunBhDxARIsAKFUGs_IeZUEf6GAdwztdSdjY_pWpY0FlCnR-wXNKKAoXnseQiNdwYVml0AaAp8aEALw_wcB#Key-Findings

[7]. Side Hustle Nation: The number of Americans working multiple gigs to just pay the bills is nearly double what we thought. (n.d.). Fortune. Retrieved September 13,2023,from https://fortune.com/2023/02/06/side-hustle-americans-working-multiple-gigs-double-previous-estimates/

[8]. Oyer, P. (2020). The gig economy. IZA World of Labor

[9]. Broughton, A., Gloster, R., Marvell, R., Green, M., & Martin, A. (2018). The experiences of individuals in the gig economy_p67

[10]. Snider, L. (2018). Enabling Exploitation: Law in the Gig Economy. Critical Criminology, 26(4), 563–577. doi:10.1007/s10612-018-9416-9

[11]. Canada, M. (n.d.). McDonald’s Canada is hiring another 20,000+ new employees to join one of the country’s biggest and best teams this fall. Www.newswire.ca. Retrieved September 5, 2023, from https://www.newswire.ca/news-releases/mcdonald-s-canada-is-hiring-another-20-000-new-employees-to-join-one-of-the-country-s-biggest-and-best-teams-this-fall-869482349.html

[12]. Gig economy: share of workers whose emergency savings would not last one month U.S. 2020. (n.d.). Statista. Retrieved September 10, 2023, from https://www.statista.com/statistics/1035743/gig-economy-share-workers-difficulty-handling-unexpected-expense-us/.

[13]. National Labor Relations Board. (2022). National Labor Relations Act.

[14]. Wood, A. J., Graham, M., Lehdonvirta, V., & Hjorth, I. (2019). Good gig, bad gig: autonomy and algorithmic control in the global gig economy. Work, employment and society, 33(1), 56-75

Cite this article

Li,S. (2023). The Gig Economy and Labour Market Dynamics. Advances in Economics, Management and Political Sciences,61,275-281.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

Disclaimer/Publisher's Note

The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of EWA Publishing and/or the editor(s). EWA Publishing and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.

About volume

Volume title: Proceedings of the 2nd International Conference on Financial Technology and Business Analysis

Conference website: https://2023.icftba.org/

ISBN：978-1-83558-223-7(Print) / 978-1-83558-224-4(Online)

Conference date: 8 November 2023

Editor：Javier Cifuentes-Faura

Series: Advances in Economics, Management and Political Sciences

Volume number: Vol.61

ISSN：2754-1169(Print) / 2754-1177(Online)

© 2024 by the author(s). Licensee EWA Publishing, Oxford, UK. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open access policy for details).