Why more workers are moving away from traditional paycheck cycle [CNBC]
Uber Technologies, Inc. (UBER)
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Source: CNBC
in the footsteps of gig workers like ride-service drivers and DoorDash delivery workers and getting paid for the work they do daily versus waiting for a paycheck. That is a reflection of both the financial pressures Americans are facing as well as the convenience of the on-demand pay structure, Chai said at the CNBC CEO Council Forum in November. While serving as CFO of Uber, Nelson Chai got a firsthand look at the rise of the gig economy. Chai, now the CEO of on-demand pay company DailyPay, also saw how gig workers struggled in a pay benefit structure that he says, “has really been about the white-collar management level.” “For most companies, you get paid bi-weekly,” Chai told CNBC's Morgan Brennan at the CNBC CEO Council Forum in November. “But what's going on right now is about two-thirds of the households in this country are actually living paycheck to paycheck.” That is heavily impacting American gig workers, which Chai said is labor pool on pace to soon reach 86 milli
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