Every time you hop in an uber, like an influencer’s post on Instagram, or choose to indulge on a lazy Tuesday night and order in chinese food, you are fueling the gig economy. That is, the fascinating, unprecedented product of technology, unemployment, and recent fluidity in the job market. It is in our best interest as students to examine this phenomenon from the eyes of the client, employee, and employer and understand the inner workings of an economy unrecognizable to any previous generation, one that has forever altered our society’s conception of employment. In order to use this system to our advantage we must delve deep and ponder the following questions: How do businesses, big and small, benefit from the gig economy? Should we be concerned by our society’s steady abandonment of trade professions? Will this model of “gigs'' over careers limit itself to the working class or will it permeate the job market at all levels?

First, let’s demystify the very concept of a gig economy. A gig economy is a labor market characterized by the prevalence of short-term, flexible jobs or freelance work instead of traditional full-time employment. Workers in a gig economy often take on a series of part-time or temporary jobs, known as "gigs," and are customarily paid for each assignment they complete rather than receiving a regular salary. The gig economy has grown tremendously with the aid of digital platforms, payment systems, telecommuting tools, specialized marketplaces, GPS technology, AI, and review systems, making it easier for gig workers to find jobs and clients and enabling remote work and flexible employment arrangements. In many ways, the gig economy benefits both big and small businesses. Companies no longer need to provide benefits like health insurance, retirement plans, or paid time off, and are able to adjust their number of employees based on current demand. 

At first glance, this seems to be an exciting advancement in the business world, however there are numerous cons embedded in the previously mentioned pros. While it may seem that lower and middle class workers benefit from this system because they make up the majority of those acquiring the jobs, it is actually hurting them in the long run. There are roughly 15.8 million people in America who classify as independent, full time workers. As more and more people make themselves available as part time employees, the value of full time workers decreases. Additionally, the recently installed revolving door of workers at many companies kills the sense of staff community and loyalty that often accompanies full time employment. I recently interviewed James Daunt, CEO of Barnes and Noble, who spoke to this issue on a personal level. Because the former leadership had prioritized saving money by primarily hiring part time employees, the attentiveness of the staff decreased and the sense of a homey book store wilted. There is a lack of authentic pride in one’s work when there is essentially nothing concrete tying them to it. There is also little room for career advancement, which leaves employees unmotivated to develop their skill set in a specific field. According to a Bankrate survey, thirty nine percent of American adults have a side hustle and twenty eight percent believe they will always need one to make ends meet. Side gigs offer a clear allure of flexibility when navigating the daunting job market and allow workers a greater sense of financial autonomy. But as more and more people choose this path, it is hard not to question what our society stands to lose as a result.