A Study on the Effect of COVID-19 Uncertainty on Gig Workers' Job Insecurity and Banking Behavior

A Study on the Effect of COVID-19 Uncertainty on Gig Workers' Job Insecurity and Banking Behavior

Kuldeep Singh, Vedantam Seetharam, Nimisha Singh
Copyright: © 2023 |Pages: 14
DOI: 10.4018/979-8-3693-0008-4.ch009
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Abstract

Concerns about global instability and vulnerability have been raised by the massive economic crisis brought on by the COVID-19 pandemic. However, the COVID-19 epidemic and subsequent prolonged lockdowns have caused operational and financial difficulties for Indian institutions. Banks have devised a variety of measures to deal with the fallout from the epidemic, and as a consequence, clients have altered their financial behavior. The study takes a qualitative approach, analyzing the behaviors of gig workers via the lens of “expert mining.” Researchers found that gig workers' employment uncertainty had the reverse effect on their behavior, making them more likely to sacrifice spending in lieu of saving for the future and significantly reducing on necessities such as livelihood spending and travel plan. In addition, the research found that there was a favorable association between the attitude towards the internet and the adoption of mobile banking among gig workers during Covid uncertainty.
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Historical Perspective

When assessing the growth of specific scientific research, the quantity of academic papers published is a crucial metric. Statistical analysis reveals that, between 2020 and 2022, 31 research papers were published on the topic of Covid and Freelancers. In comparison, a search for Covid and Job Insecurity resulted in 409 research findings, while a search for Covid and Banking produced 199 research findings (See Fig 1-3).

Figure 1.

Search results for COVID and freelancer keyword in WebofScience search engine

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Figures 2 and 3 depict the growth trend of published articles in the field of Covid, job insecurity, and banking during the pandemic, as indexed in Web of Science journals. The data clearly shows an increasing trend in the number of articles being published since the start of the pandemic. Notably, the field of gig workers had the lowest share of publications, with only 31 records, suggesting the need for more research in this area.

Figure 2.

Search results for COVID and job insecurity keywords in WebofScience search engine

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