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Gig Economy

The Gig Economy Index™, a Hyperwallet collaboration, is designed to better understand workers in the gig economy, people who often work in short-term, ad hoc positions — who they are, what services they supply and what percentage of their overall income the gigs represent.

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The word “gig” originated in the music industry, with some using it to describe the type of employment jazz musicians enjoyed during the pre-1920s swing era. The scope of what gigs encompass has changed dramatically in the past century, though, and has since come to refer to short-term work opportunities.

Such work is now mainstream. Many participate in the gig economy by running errands found on digital marketplaces or driving for ridesharing firms, but an increasing share are now pursuing specialized consulting jobs in accounting and recruiting, among other fields — and often juggling multiple positions at the same time.

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