Small, independent entrepreneurs are finding it harder to make a buck in a booming, changing economy.
The “gig” economy might not be the new frontier for America’s workforce after all.
From Uber to TaskRabbit to YourMechanic, so-called gig work — task-oriented work offered by online apps — has been promoted as providing the flexibility and independence that traditional jobs don’t offer. Yet the evidence is growing that over time, these jobs don’t deliver the financial returns many workers expect.
And they don’t appear to be reshaping the workforce. Over the past two years, 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 released Monday.
So many reasons why. Many you know. This may help explain why we have about as many self-employed people in America as we have prisoners and convicts. The one they want, the other they don’t.