Employment is the indicator of the economy. The vigorous development of the sharing economy heralds the arrival of the era of flexible employment. At home and abroad, there are three viewpoints on the relationship between sharing economy and employment: working opportunities increased and decreased in different areas, and working position replaced. Based on the analysis of the phased characteristics of China’s shared economy development, this paper finds that the impact of the shared economy on China’s employment system is reflected in three aspects. First, it leads to a large number of low-skilled laborers to be unemployed. Second, the shared economy is mostly elastic which results in the vulnerability of employment. The third is that the shared economy poses challenges to the employment security system. The main crux of the impact of the sharing economy on employment is that it does not form a society that can engage in dialogue with the markets and capital. Safeguarding the basic rights and interests of laborers can create a balance between the government and effective market, and thus helps to create a strong society.