Browsing: formal sector

According to Investopedia, a gig economy is a labour market mainly reliant on temporary and part-time work filled by independent contractors and freelancers rather than full-time permanent employees. A gig economy produces cheaper, more efficient services for those willing to use them.

A gig is a broad category that includes a wide range of positions. Work can range from cab driving or restaurant delivery to writing code or freelance essays. Instead of tenure-track or tenured professors, adjunct and part-time professors are contracted employees. By recruiting more adjunct and part-time teachers, colleges and universities can save costs while also better-matching instructors to academic needs.…