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Aparna
Aparna

Aparna

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Aparna
Asked: October 14, 20212021-10-14T14:45:57+05:30 2021-10-14T14:45:57+05:30In: Economics

What is Gig Economy?

Proposition 22, the future of the gig economy.

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    1. Sagar

      Sagar

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      Sagar
      2021-10-15T00:29:51+05:30Added an answer on October 15, 2021 at 12:29 am

      Context:

      Proposition 22, a ballot initiative in California, that will allow companies to retain their drivers and other workers as “independent contractors” instead of “employees”, has been passed, setting a new high-water mark for spending on a California ballot measure.

      As a result, gig workers for Uber, Lyft, DoorDash, Instacart, and Postmates in the state will remain as independent contractors, rather than being subject to being reclassified as employees.

      Gig Economy

      • A gig economy is a free market system in which temporary positions are common and organizations hire independent workers for short-term commitments.
      • The term “gig” is a slang word for a job that lasts a specified period of time; it is typically used by musicians.
      • Non-traditional or gig work consists of income-earning activities outside of traditional, long-term employer-employee relationships.
      • Pros of Gig Work:
        • Flexibility
        • Test Drive Something New
        • Greater independence
        • A variety of jobs.
      • Cons of Gig Work:
        • Lack of Benefits
        • Inconsistent Income
        • Burnout
        • Quarterly taxes, personal expenses.

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      [Deleted User]
      2021-10-14T14:52:00+05:30Added an answer on October 14, 2021 at 2:52 pm

      Context:

      Proposition 22, a ballot initiative in California, that will allow companies to retain their drivers and other workers as “independent contractors” instead of “employees”, has been passed, setting a new high-water mark for spending on a California ballot measure.

      As a result, gig workers for Uber, Lyft, DoorDash, Instacart, and Postmates in the state will remain as independent contractors, rather than being subject to being reclassified as employees.

      Gig Economy

      • A gig economy is a free market system in which temporary positions are common and organizations hire independent workers for short-term commitments.
      • The term “gig” is a slang word for a job that lasts a specified period of time; it is typically used by musicians.
      • Non-traditional or gig work consists of income-earning activities outside of traditional, long-term employer-employee relationships.

      • Pros and Cons of Gig Work
      • Pros of Gig Work
        • Flexibility
        • Test Drive Something New
        • Greater independence
        • A variety of jobs.
      • Cons of Gig Work
        • Lack of Benefits
        • Inconsistent Income
        • Burnout
        • Quarterly taxes, personal expenses.

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