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As the Gig Economy Silently Takes Over Industries, Some Experts are Calling for Regulation

New York Times Magazine | | Apr 13, 2023

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When Your Boss Is an App

  • The gig economy has been growing rapidly in recent years, with more and more people turning to freelance work and gig jobs. While gig work can offer greater flexibility and autonomy, many gig workers face precarious working conditions, with low pay, no benefits, and no job security. In response to these challenges, a new generation of apps and platforms are emerging that aim to offer gig workers better pay, benefits, and protections.
  • One such app is Upwork, which connects freelancers with clients and offers them tools and resources to manage their work. Another is Steady, which helps gig workers find jobs and benefits, such as health insurance and retirement savings plans. Meanwhile, platforms like Uber and Lyft are beginning to offer drivers more benefits and protections, such as sick leave and minimum wage guarantees.

See:  Adjusting to the new Labour Market

  • Despite these developments, many gig workers continue to face challenges and uncertainty, including unpredictable work schedules, difficulty accessing benefits, and the threat of job loss. To address these issues, some experts are calling for greater regulation of the gig economy, including the introduction of minimum wage laws, health and safety protections, and benefits requirements.
  • Overall, the gig economy is likely to continue growing, driven by the desire for flexibility and autonomy among workers and the demand for cheaper, more flexible labor by businesses. However, it remains to be seen whether gig work can be made more secure and sustainable, or whether it will continue to leave many workers in precarious and insecure positions.

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NCFA Jan 2018 resize - As the Gig Economy Silently Takes Over Industries, Some Experts are Calling for RegulationThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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