Sunday, May 26, 2019

Workers ditching gig economy

Updated 21 days ago

Are gig companies between a rock and a hard place? A tightening U.S. labor market, with unemployment at a half-century low, is spiriting away workers, The Wall Street Journal reports. Many switch between gigs quickly, never staying for more than a few months or only working part-time to supplement incomes. Meanwhile, loss-making companies like Uber and Lyft are hard-pressed to improve pay and benefits, especially as they go public.

EDITORS’ PICKS

Drivers with gig economy services like Uber and Lyft don't tend to stay with an app for very long.  In fact, some gig economy startups could have a turnover rate as high as 500% per year, The Wall Street Journal reports.  Yet for those who continue to use Uber and Lyft for full-time employment, pay can be as low as $15,000 a year. That's why many drivers have planned a massive strike on May 8 to protest low wages and little job security.   "With the IPO, Uber's corporate owners are set to make billions, all while drivers are left in poverty and go bankrupt," executive director of the New York Taxi Workers Alliance said in a release.   Follow Business Insider for more coverage.   hashtag#business hashtag#employment hashtag#uber hashtag#lyft hashtag#gigeconomy

More Uber and Lyft drivers are using the app to fit their schedules, but those who make it a full-time job are barely earning a livable wage

businessinsider.com

I love the question and answer posed in the article.  ‘Have you guys ever considered you may burn through the entire available labor market of people interested in or willing to do roles like this?’ and they did not have an answer for that.

In a Tight Labor Market, Gig Workers Get Harder to Please

wsj.com

The exaltation of the “gig economy” was an insidious way - primarily in Silicon Valley - to perpetuate the shift from stakeholder capitalism to shareholder capitalism.  Milton Friedman’s influence seriously undermines the “psychological contract”. hashtag#DeniseRousseau hashtag#MiltonFriedman hashtag#DanLyons hashtag#LabRats hashtag#vulturecapital

Larry Hueth
• 3rd+

President / CEO at First Federal

3w

I love the question and answer posed in the article.  ‘Have you guys ever considered you may burn through the entire available labor market of people interested in or willing to do roles like this?’ and they did not have an answer for that.

In a Tight Labor Market, Gig Workers Get Harder to Please

wsj.com

The gig worker model is beneficial for some companies and spells trouble for others.

What We Know After 10+ Years of the ‘Gig Economy’

growwire.com

As we move forward, what are the options as it relates to hashtag#Gig hashtag#employees -  a lot if you are in the estimated 16.5 million people who are working within the Gig economy.  The reality is that so many organizations are in fact using some form of Gig employees and this trend is showing no signs of going away.  This year may bring many things, including some alterations in these employees that employers should be mindful of and consider how to engage these individuals who can add significant value against the funds expended to retain their services.  http://ow.ly/ooRp30oykcw  hashtag#EmploymentLaw hashtag#BrownandConnery hashtag#HR hashtag#Smallbusiness hashtag#workplace hashtag#speaker

Five Predictions For The Gig Economy And Freelancing In 2019

forbes.com

Based on a data crunch of millions of jobs and millions of users at gig-economy hotbed Upwork, the numbers aren't so pretty. For 76,670 jobs as of today, there are 2.02 million workers competing for work. hashtag#alternativedata hashtag#gigeconomy hashtag#freelancing

Thinknum

3,446 followers

3w

The gig economy promises flexible hours and plenty of work. So far, though, data suggests that there's fierce competition, low pay, and that doesn't seem to be changing any time soon. Here are our finding so far. hashtag#gigeconomy hashtag#upwork hashtag#freelancers hashtag#alternativedata

Is the gig economy all that? Competition is growing for the same number of jobs

media.thinknum.com

Here's some CRAZY FACTS... . 👉🏻 Today, 36% of U.S. workers are in the "Gig Economy," (as in they have some kind of side hustle!) . 👉🏻 And this workforce is currently expanding 3X FASTER than the traditional workforce. . 👉🏻 Experts are saying this side gig phenomenon will reach up to 43% of all workers by 2020! . The Gig Economy is “a thing” now, but it’s not exactly a new idea... . I’m featured in a new article on where all this began, which just got published on Thrive Global. Check it out and let me know what you think! . hashtag#sidegig hashtag#gigeconomy hashtag#sidehustle hashtag#directsales hashtag#networkmarketing hashtag#theoriginalsidegig

How Blake Mallen Capitalized On The Gig Economy Before It Was A Thing - Thrive Global

thriveglobal.com

Ronald McCaffertyInformation Technology and Services Professional

There is nothing new here, the Gig economy has always been around, it just didn't have a catchy name in previous decades. The tightening labor market does create more opportunity for negotiation for compensation and benefits. With the astronomic increases in the cost for basic health coverage for individuals in the past 3 years, it makes a traditional gig even more attractive.

In response to

David Sprinkle’s post

The gig worker model is beneficial for some companies and spells trouble for others.

Anthony Almeda, CPA, CFE, CSOE, MBADirector of Internal Audit | Risk Assessments | Project Management | Fraud Investigations | Audit Department Development

The GIG economy is all about low pay.  If the pay was not lower than hiring the employees, there would be no GIG economy.

In response to

Joshua Fruhlinger’s post

Based on a data crunch of millions of jobs and millions of users at gig-economy hotbed Upwork, the numbers aren't so pretty. For 76,670 jobs as of today, there are 2.02 million workers competing for work. hashtag#alternativedata hashtag#gigeconomy hashtag#freelancing

John Brown's Notes and Essays

Sunday, May 26, 2019