Emerging Trends in Labour Industry with Special Reference to Gig Economy: An Analysis

Abstract

Indian society is essentially a society which is an amalgamation of people of various social strata. One of the main pillars of our economy at present is the labour class. People who are making the lives of others a little easy by putting up their own efforts by using their own skills and proficiency. Earlier the trend was to engage a particular person for full-time or on a permanent basis, for performing a particular task. But in recent years and especially after the pandemic of Covid’19, a shift in this traditional approach has been witnessed across the globe. The pandemic forced almost every individual to explore new dimensions of progress when the whole world stood still. This also forced both the employer and the employed to search for new possibilities to keep going on with their profession and jobs. This also gave a pace to the growth of the new labour market known as the gig economy. A gig economy is a labour market that relies heavily on temporary and part-time positions filled by independent contractors and freelancers rather than full-time permanent employees. The current paper is an attempt to deeply analyze the new trend in the labour industry and evaluate the pros and cons of this trend. Further, suggestions/recommendations for necessary modifications in the trend of employment of such professionals will also be provided.