The informal economy operates from the sidelines, beyond the reach of government regulation or taxation. Most informal employment occurs in developing countries, where it’s been keeping local people afloat for decades. But the work is unpredictable, workers can be unreliable, and neither workers nor employers thrive under uncertainty. Such is the case in Africa, where the working-age population is booming but jobs are in short supply. According to this World Economic Forum article, mobile technology and its proclivity for finding, gathering and mobilizing temporary workers may be the answer.
About the Author
Aubrey Hruby is a senior adviser to Fortune 500 Companies and also contributes to the World Economic Forum, an international organization for public-private cooperation.