Good news has come almost every month for the last several years, jobs. Frequently, hundreds of thousands of jobs were added every month. And yet, there’s been a decline in the feeling of job stability. The two are not in contradiction. In the last decade, ten million of the new jobs have come from the Gig Economy. The Gig Economy sounds like something incidental, a way for people to make some extra money in their spare time, or as a something temporary until they get back into another “normal” job. It turns out that The Gig Economy is the new economy, which is why jobs feel unstable. It’s because they are.
““We find that 94% of net job growth in the past decade was in the alternative work category,” said Krueger.” – Quartz
Those who benefit most from the Gig Economy’s flexibility are those who have another steady source of income, from another job or from another family member. Unfortunately, companies are reducing those stable jobs, redefining employees as contractors to reduce costs by reducing benefits, and by being able to reduce staff without resorting to layoffs. The economy is shifting to a shifty economy.
(Click on the chart for the link.)