Gig Economy and Gig Workers - A Small Guide!

Gig workers and Gig economy are some of the trending terms in the job market. The term gig economy has become popular among mainstream workers as well. Though these two terms have become widely popular, not all those who know about these terms understand them perfectly. This article is written to explain who are gig workers and what exactly the gig economy means.

Gig Economy

First, let us see what the ‘Gig economy’ means. The economy is the collection of production and consumption of goods and services and the functioning of money and its supply. Now within the economy, there are markets. Every industry has a market of its own, which is based on the requirements, trends,  demand, and supply of the goods and services in the industry.

Freelancing is categorized as a service industry. It is considered much like a business in which freelancers sell their services. Therefore freelancing industry has a market of its own.

Therefore the functioning of this market and the collective supply of money in this market is called as ‘Gig economy’.There is a reason why it is called the ‘Gig’ economy. Freelancing industry functions based on projects. The freelancers are meant to look for projects one after the other on their own. These projects are called ‘Gigs’. Therefore the contributions of the freelancing market form the ‘Gig economy’.

Gig workers

Gig workers are the worker who contributes to the ‘Gig economy’. Since the ‘Gig economy’ is widely defined by the freelancing community, the freelancers are often the  ‘Gig workers’.

The gig workers can also be workers who work based on a contract for individual projects.

Gig workers ie. freelancers are now widely hired by companies across various industries around the world. Freelancing has become a viable career option these days. The top freelancers in the industry are earning anywhere between $100 to $200 an hour.

If you are a freelancer in India looking for gigs you can visit gig4u.co. Gig4u is an Indian platform that connects clients and gig workers across India. Gig4u has a huge customer base offering gigs in various fields. It also has the lowest processing fee and a free signup portal with free job search facilities.