W2s Down 1099s Up

The data are becoming clearer. The recovery in the Great Recession has not been a return to the old way of doing business, or working. Traditional employees have pay reported via W-2 forms. Gig Economy workers receive 1099s. Since 2007, 1099s are up 8.9%; W-2s are down 3.5% for a gap of 12.4%. The trend towards an economy dominated by gigs continues, as well as the trend towards companies shifting expenses to individuals. New ways of working or doing business may need to be matched with new ways of providing social services.

“How We Became An Economy Of Side Jobs” – yes! Magazine