gig economy

American  

[gig i-kon-uh-mee] / ˈgɪg ɪˈkɒn ə mi /

noun

Slang.

1. an economic sector consisting of part-time, temporary, and freelance jobs.

   rapid growth of the online gig economy.

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Etymology

Origin of gig economy

First recorded in 2005–10; gig ¹ ( def. ) (in the sense “a job of uncertain duration”) + economy ( def. )

Example Sentences

In similar fashion, democratized access to AI will power the gig economy, making it easier for companies to engage with skilled contractors as needed.

From The Wall Street Journal

So many people are entering the gig economy that it is putting downward pressure on wages, as people laid off from other industries or unable to find full-time work compete for pay.

From The Wall Street Journal

This gap is a warning sign for the burgeoning gig economy, where workers trade stable employee benefits for more flexible schedules.

From MarketWatch

“The gig economy and the way it is advertised really enforces the fact that people are their own businesses,” says Gershon.

From The Wall Street Journal

Meanwhile, millions of unionized 9-to-5 jobs have disappeared, leaving many Americans working longer shifts, holding down multiple jobs or picking up ad hoc work in the gig economy.

From The Wall Street Journal