Understanding the Gig Economy

The video discusses the shift from traditional permanent jobs to the gig economy, which includes freelancing and temporary jobs. It highlights how technology enables remote work and the growth of businesses like Uber and Airbnb. The gig economy's impact on the job market is uncertain, but adaptation is necessary for both companies and workers.

What has traditionally been the norm for employment?

• Volunteer work

• Seasonal work

• Permanent full or part-time jobs

• Short-term gigs

What types of jobs are included in the gig economy?

• Only jobs in the sharing economy

• Only freelancing

• Freelancing, temp jobs, and jobs in the sharing economy

• Only temp jobs

What is one reason for the growth of the gig economy?

• Government policies

• Evolution of technology

• Increase in population

• Decrease in traditional jobs

How have mobile apps contributed to the gig economy?

• By increasing the cost of advertising

• By enabling businesses like Uber and Airbnb to expand their contract workforce

• By allowing businesses to hire only locally

• By reducing the number of jobs

What has social media enabled people to do in the gig economy?

• Work only in local markets

• Increase the cost of their services

• Market themselves and sell products/services at a lower cost

• Find traditional jobs

What is uncertain about the gig economy?

• Its current size

• How it will change the future job market

• The types of jobs it includes

• The role of technology in it

What will both companies and workers need to do in response to the gig economy?

• Ignore it

• Return to traditional jobs

• Continue to adapt

• Increase advertising costs