Gig Economy

A gig economy is a free market system in which temporary positions are common and organizations contract with independent workers for short-term engagements. The term "gig" is a slang word meaning "a job for a specified period of time" and is typically used in referring to musicians. Temporary work or temporary employment refers to an employment situation where the working arrangement is limited to a certain period of time based on the needs of the employing organization.

(source: whatis.techtarget.com)

Gig Economy
With Gig Economy Booming, Job Marketplaces Find A New Role
November 07, 2017

Post-recession, with gig workers now powering 33 percent of the U.S. workforce, the on-demand worker seems very mainstream. But paying these workers on demand is no long an option. In the latest PYMNTS Gig Economy Index™, a Hyperwallet collaboration, 84 percent of gig workers say...

Gig Economy
NEW STUDY: Gig Economy 2.0: Faster Payments No Longer An Option
November 06, 2017

They’re college students earning money around class schedules, laid-off professionals waiting for a recruiter to call back and mothers without time for a traditional 9-to-5 job. They’re retirees seeking extra cash (and perhaps an excuse to get out of the house). Some are hobbyists, or...

Gig Economy
Sluggish Payments Hold Back Gig Economy
November 02, 2017

Freelance work isn’t free — no matter what some clients may wish. When multiple bills come in or cash falls short, clients can be quick to put freelancers’ bills on the bottom of the pile — a major problem for those who earn a living...

Gig Economy
ADP: An Unlikely, But Likely, Player In Paying Gig Workers
October 09, 2017

Gig workers are an exploding workforce in the U.S. According to the PYMNTS.com Gig Economy Index, these workers account for 3.7 percent of total GDP — which amounts to more than $711 billion in income this year alone. At the same time, payroll cards are experiencing...

Gig Economy
Uber Resolves To Go Public By 2019
October 04, 2017

Lots of big news out of Uber this week: The ride-sharing firm that got the gig economy off the ground has announced that it is accepting an investment from Japan’s SoftBank. Get the Full Story Complete the form to unlock this article and enjoy unlimited...

Gig Economy
First Data Enables Push-To-Card Payments For Contractors
September 29, 2017

First Data, a global leader in commerce-enabling technology, announced its new “Disburse-to-Debit” solution, a low-cost payout option for businesses with gig economy workers that delivers funds directly to a debit card. Get the Full Story Complete the form to unlock this article and enjoy unlimited...

Gig Economy
The Gig Economy — A Labor Day Tribute
September 04, 2017

Today is Labor Day, a holiday we’ve been celebrating to honor the hard work and productivity of the American worker since 1894. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...

Gig Economy
Zego Raises Over £1M In Funding To Provide Insurance Platform For Gig-Economy Drivers
July 20, 2017

Startup Zego has raised just over £1 million in seed funding from investors, including LocalGlobe, with FTSE 100 company Aviva, for an “insurtech” product for gig economy delivery drivers. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...

Gig Economy
Gig Economy Powers Growing Demand For Experiences
July 13, 2017

Take this job and... gig it? The gig economy is taking off and an emerging workforce that covets flexibility isn’t looking back. According to the latest PYMNTS Gig Economy Index™, 69 percent of gig workers say they’d stick with their gigs over a full-time job....