What are two advantages and two disadvantages of the informal economy

Advantages of Informal Sector employment:

Some employers pay well because company owners do not have many tax obligations. Employee effort is directed towards achieving profit rather than satisfying irrelevant routines.

There can be a close and direct relationship with the employer, therefore making it easy to get permission when in need of time off.

You are saved the hassle of paying Pay As You Earn tax.

There’s no red tape when it comes to dealing with personnel issues which are expressly handled either by the employer him/herself, or a senior manager.

Sometimes employment is done on the spot with little emphasis on attending lengthy job interviews and countless aptitude tests.

Sometimes one is employed because of one’s personal relationship with the employer rather than on merit.

Disadvantages of Informal Sector employment:

Little or no job security.

Unprotected by labour laws.

Odd working hours.

No pension, insurance or health insurance scheme.

Summary dismissals.

Difficult to make any savings due to low wages.

A brief illness or injury or injury can mean no financial means to survive.

Explanation:

answer may be d i think

if you do not file your taxes you will not have a job, and you credit rate will go down.