However, if gig work is less stable, it may increase job loss. The net effect on unemployment is, thus, unclear. Regarding productivity, gig work could lower aggregate productivity to the extent that it requires less human capital or specialized knowledge than traditional jobs, or if it primarily increases hours worked by lower-skilled individuals.
We are therefore now developing our thinking, and building on the existing relationships we have with the supervisor and central bank in Australia, as to the arrangements required to ensure that there is effective coordination between home and host authorities, both in the day-to-day supervisory process and, especially, in periods of financial distress.