Saturday, June 09, 2018

The American Gig Economy

 The US Bureau of Labor Statistics  found that 16.5 million people are working in “contingent” or “alternative work arrangements”. Nearly 6 million people, 3.8% of workers, held contingent jobs in the US in May. Another 10.6 million were working as independent contractors, on-call workers, temporary help agency workers and for contract firms.

The numbers dwarf other more high-profile industries. The coal industry, for example, employs about 80,000 Americans, and steel employs about 150,000. 

A McKinsey report found that independent contractors get paid 20-30% less than employees.

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