The impact of the gig economy is still poorly understood, even though the labour market continues to adapt to the new global, digital marketplace.
There are both advantages and disadvantages to participating in the gig economy.
The gig economy is a system that rewards people per task or gig in smaller increments than salaried employees. “Giggers” need to understand the demand for their particular job in the market and what that job would typically be priced at. Negotiation is a two-way discussion, framed by affordability and economic conditions.
Some online platforms, such as Uber, allow participants to choose the jobs they want and at the rates for which they are prepared to work. Problems, however, may arise when many people start offering your skill at a lower price.