What Is the 'Freelance Economy'?

The freelance economy revolves around hiring self-employed workers to undertake specific jobs in return for an agreed-upon payment. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Term of the Day | Words to Know Freelance Economy The freelance economy, also known as the gig economy, is a labor market consisting of a growing number of short-term contracts. Companies hire self-employed workers to undertake specific jobs in return for an agreed-upon payment, rather than offering them permanent positions. The people who do these temporary jobs are called freelancers. They may find jobs through classified ads, temporary staffing agencies, or other means. Read More » Related to "Freelance Economy" The Ultimate Guide to Working From Home Read our complete guide to working from home: which industries have the best flexible, remote jobs, how to be effective, and how to avoid scams. Read More » 9 Ways to Find a New Job Job seekers are getting more creative to get ahead of the pack. Here are nine smart ways to move onwards and upwards. Read More » SPONSORED BY INVESCO The Complete Guide to ETFs ETFs are becoming increasingly popular and soaring to new heights among investors. Invesco's insights can help you determine if these investment vehicles are right for you. Learn More » How Social Security Works for the Self-Employed You still have to pay into Social Security if you're self-employed. But there are deductions to help lighten the tax burden. Read More » Sign Up for 'Chart Advisor' Want more Investopedia market news? Investopedia's expert analysts present market performance for the day and discuss with in-depth charting and technical analysis, a must read for traders. Subscribe» Related Definitions Independent Contractor An independent contractor is a person or entity engaged in a work performance agreement with another entity as a nonemployee. Read More » Labor Market The labor market refers to the supply of and demand for labor, in which employees provide the supply and employers provide the demand. Read More » Self Employment A self-employed person performs work for themselves without working for a larger organization or employer. Read More » Virtual Assistant A virtual assistant is an independent contractor who provides administrative services to clients while working outside of the client's office. Read More » CONNECT WITH INVESTOPEDIA Email sent to: mondemand.forex@blogger.com To update your newsletter preferences or unsubscribe, click here. 114 West 41st St, floor 8 New York NY 10036 © 2020, Investopedia, LLC, All Rights Reserved | Privacy Policy