Notes

Knowing The Gig Economy

Hearing the expression Gig Economy recently caught my attention. Where did this word gig originate? Musicians refer to their own compensated demonstrations as gigs and really cool men and women refer to their own temporary tasks as gigs. Put another way, the expression "gigging" means having paid work or being employed.


Today a gig may be a temporary task concerning duration of employment. In the employment industry, we often refer to those assignments as both temporary or contract as it is usually for a defined period of time. Gigs may be full-time work hours and sometimes they are part-time hours.


Well, with our robust economy sitting in 4.0% unemployment it appears that all is well when it comes to finding employment? Many economists believe that these amounts to be misleading. The sensation of prosperity is not being felt by many and this contributes to the requirement to take on an excess job [or 2 ] by millions of Americans simply to make ends meet. We know by taking a look at the data which people have a tendency to change jobs several times during their working lives and the gig economy can be regarded as a development of the trend.


At click this site , we all know that 1 in 5 employees in the workforce is contingent or flexible hourly labour. Many professionals are selecting contract employment due to the flexible work hours, work-life equilibrium or a means to stay engaged in the workforce whilst keeping their technical and people skills sharp. While employment amounts count W-2 statements these workers could be functioning part-time or working this assignment until a better opportunity comes along. There are roughly 6 million people [4% of labor force] that make up the U.S. contingent workforce since these numbers have not been tracked in previous decades.


Capturing the gig economy is important when working to comprehend the employment numbers. get more are picking a contingent labor force as they search for ways to stay competitive when controlling employment expenses and expenses. When marketing or seasonal changes impact sales companies are aware that a contingent workforce allows them to remain flexible and profitable.


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Businesses should be aware that the growth of the gig economy is a global trend and this trend doesn't show signs of decreasing. People are searching for ways to locate balance in their lives while providing for their own families. Sometimes that needs a second job.


Smart businesses know that a flexible workforce makes good business sense.


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