Why the gig economy may not be the work force of the future [Toronto Globe and Mail (Ontario, Canada)]
JP Morgan Chase & Co. (JPM)
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Source: Toronto Globe and Mail
The “gig” economy might not be the new frontier for America’s work force after all. From Uber to TaskRabbit to YourMechanic, so-called gig work has been widely seen as ideal for people who want the flexibility and independence that traditional jobs don’t offer. Yet, the evidence is growing that over time, they don’t deliver the financial returns many expect. And they don’t appear to be reshaping the work force. Over the past two years, for example, pay for gig workers has dropped, and they are earning a growing share of their income elsewhere, a new study finds. Most Americans who earn income through online platforms do so for only a few months each year, according to the study by the JPMorgan Chase Institute being released on Monday. Story continues below advertisement One reason is that some people who experimented with gig work have likely landed traditional jobs as the economy has improved. Drivers for Uber, Lyft and other transportation
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