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gig economy

work organized as short freelance jobs, not employment

In Business & Marketing

In more detail

1. (noun) an economic system where people work on short-term jobs or projects rather than having permanent full-time employment

2. (noun) the collection of temporary or freelance jobs available in this type of work system

Examples

• 1. She earns money through the gig economy by driving for a rideshare app and delivering food on weekends.
• 2. The gig economy has grown rapidly with companies like Uber and Fiverr.

How to use gig economy

The gig economy refers to modern labor markets where people cobble together income from multiple short-term projects or tasks, often mediated by digital platforms like Uber or Fiverr, rather than working in conventional long-term positions. The term is primarily used in contemporary economic and business discourse, often with neutral or slightly critical undertones depending on context. It differs from traditional freelancing in its emphasis on digital mediation and rapid task turnover.

Common phrases

• gig economy workers
• in the gig economy
• gig economy jobs
• gig economy platforms
• gig economy growth
• participate in the gig economy

Synonyms

freelance economy · platform economy · on-demand economy · contingent work · flexible work

Opposites

traditional employment · permanent employment · full-time employment

A common mistake

Learners sometimes treat the gig economy as purely informal or illegal work, when in fact it includes legitimate professional services and is a recognized economic model studied by policymakers.

Nearby in Business & Marketing

escalation, focus group, forecast, headhunting, incubator, joint venture

Keep going

How to remember the words you read · Spaced repetition, explained