Economic Implications Of The GIG Economy: A Study Of Income Stability And Job Security Of GIG Workers
- IJLLR Journal
- Apr 4
- 2 min read
Kanimozhi V, B.S Abdur Rahman Crescent Institute of Science and Technology/Crescent School of Law
Pojhaa R B, Tamil Nadu Dr. Ambedkar Law University/ School of Excellence in Law
Dinesh Kumar R, Tamil Nadu Dr. Ambedkar Law University/ School of Excellence in Law
Gospelan Paul V, Tamil Nadu Dr. Ambedkar Law University/ School of Excellence in Law
ABSTRACT
Nero -OLD economic progress is consistently short, flexible, freelanced and contract - based work that has caused a significant transformation into a global labor market that affects the stability and safety of millions of employees. This study studied the financial impact of the zero employees 'economy specifically designed for its impact on the stability of employees' income and occupational safety. As traditional employment structures shift to gig models, more and more workers are taking flexible jobs that often lack the security associated with long-term employment. While gig work offers benefits such as autonomy, flexibility and reduced barriers to entry for individuals seeking to supplement their income, it also presents challenges with unpredictable income streams, limited job security and inadequate social protection. Due to the demand-based nature of gig work and the fluctuations in job opportunities, income stability is one of the key aspects of analysis, which varies greatly in the gig economy. Gig workers face unstable incomes that often depend on seasonal demand, platform policies and customer availability, leading to potential economic vulnerability. This volatility of income is in contrast to the predictable income associated with traditional employment, where stable wages contribute to a stable financial future for workers. In contrast, gig workers are often responsible for managing their own taxes, health insurance and retirement savings, adding to their financial complexity and uncertainty. In addition, benefits such as paid holidays, medical treatment and pension plan have worsened the despicable income of the employees and thus cause long -term financial planning problems. Occupational safety is another focus of this study and is also limited in the Zero working economy, as most platforms work under the model of independent contractors. The essence of the area Un like traditional employment, gig work lacks labor protection laws to prevent arbitrary termination, increasing worker vulnerability.
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