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Understanding the Gig Economy: A Paradigm Shift in Employment Models
Dr. Sharad Chandra Bajpai Dr.Priyank Mishra
Abstract:
With its emphasis on temporary, on-demand labour, the "gig economy" is revolutionising the way people think about and approach conventional employment. Workers, companies, and labour markets are the subjects of this investigation of the gig economy's history, main forces, and consequences. The growth of gig-based employment has been influenced by technical developments, digital platforms, and changing labour choices, according to the report. Along with the pros, including independence and diversified income streams, it lists the cons, like unstable employment, inadequate social security, and worries about government oversight. The influence of the gig economy on society and the economy, as well as its role in reshaping contemporary labour patterns, are brought to light in this study via an extensive literature review and empirical research. While gig employment does open doors to more people entering the workforce and more money in the economy, the results show that legislative frameworks are urgently needed to protect gig workers' rights to social security and fair labour practices. The future of work and how to strike a balance between security and flexibility in changing employment forms are topics that this research adds to the continuing conversations about.
