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Work & Employment

Pros & Cons of the Gig Economy

A job for life is increasingly becoming hard to get by in many sectors in the advanced economies. A new way of working has emerged, captured in the term gig economy. In this mode of business companies hire contingent workers, provisional employees who work for the organization on a non-permanent basis. While these workers like the flexibility, they also see significant downsides.

Description

This chart shows selected benefits and downsides of contingent work in the gig economy

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Labor force participation rate in China 1990-2025
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Monthly civilian labor force participation unadjusted rate in the U.S. 2024-2026
Total number of people in the labor force in Tanzania 1990-2025
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Labor force in Malaysia 2014-2024
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Highest labor force participation rates worldwide 2024
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Labor force participation rate and projections 2004-2034, by age in the U.S.

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