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What is the News?
According to a study by UNDP and FICCI, the rise of the gig economy has the potential to boost women’s employment in formal jobs.
Key Findings of the Study:
- The rise of the gig economy following the coronavirus outbreak has the potential to boost women’s employment in formal jobs.
- However, re-skilling will be crucial to expand opportunities for women in the formal sector.
- Sectors such as health and pharmaceuticals, electrical and electronics, and fast-moving consumer goods are likely to see more female employment.
- But the women’s employment in the finance and accounting divisions may moderately change because of the adoption of new technology.
What is the Gig Economy?
- The Gig Economy is characterized by short-term contracts or freelance work as opposed to permanent jobs. It often involves connecting with customers through an online platform. Example: Delivery boys of app-based food, consultants, bloggers.
- According to the World Bank, around 6% of the world’s labor force is part of the gig economy.
- Globally, more than half of gig jobs are driven by demand for low-skilled, low-wage work. Only around 30% of them require specialized skills and expertise.
