The article on Reuters, published on November 17, 2023, highlights a potential miscounting of millions of gig workers in US jobs data. The research suggests that the current data may not accurately capture the employment figures in the gig economy. This discrepancy is a significant data gap for economists who rely on accurate labor force information to analyze trends and make informed predictions about the economy. The implications of such miscounting extend to understanding inflation risks and overall economic health .
This revelation underscores the evolving nature of work, with gig employment becoming a substantial contributor to the global labor force. The article prompts a critical examination of how employment metrics need to adapt to the changing nature of work, particularly with the expansion of online gig work facilitated by digital platforms, as highlighted by the World Bank’s findings on the promise and peril of online gig work . Economists and policymakers may need to reconsider traditional methods of data collection and analysis to provide a more accurate representation of the workforce in the modern economy.
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