3.5 - Issues: Gig Economy

Question 1

What is the Gig Economy?

Answer 1

Fragmented work where individuals are given tasks for a certain period of time

Question 2

What type of labour does the Gig Economy facilitate?

Answer 2

Part time/temporary positions held by freelance workers + independent contractors

Question 3

What % of working age UK adults are within the Gig Economy?

Answer 3

4%

Question 4

What are the benefits to a business?

Answer 4

Reduced fixed costs
Reduced investment - Gear ownership
Flexibility

Question 5

How are Gig Economy hours often determined?

Answer 5

According to expected demand

Question 6

What are the benefits to workers?

Answer 6

Flexible + controlled hours
Working from home - Autonomy
Extra income flows

Question 7

What are the drawbacks to workers?

Answer 7

Doubts over true flexibility
Lack of employment rights/benefits
Job + income uncertainty
Training investment poor
Risk bearing

Question 8

What are the wider downsides?

Answer 8

Shrinking tax base
Job quality

Question 9

What is the tax base?

Answer 9

Total value of all assets, properties, individual incomes and corporate properties