The article approaches the gig economy in an in-depth perspective in regards to the population whose main income rely on the gig economy. Patrick Gillespie, the author of the article, notes that an approximate number of sixty-eight million individuals take up freelance jobs as a way of achieving balance in their lives while an estimate of twenty million needs them to sustain their daily needs. He provides an explanation that the main issue is giving rise or rather empowering the population in the gig economy which appears to be below the economic metrics. The author cites reports from U.S officials in regards to the growth of the economy, whereby they state that the growth of America is slow and that the gig employees have not been considered due to the increase in the gig economy. The increase in the gig economy can be attributed to the growth of freelance companies such as Uber, Etsy, and TaskRabbit whose workers claim to be happier in their work environs when compared to the workers in the nine to five economies.
The author cites Susan Lund who claims that people enjoy independence and being their own bosses. However, the problems such as short working hours, the absence of insurance, overpayment of taxes in addition to lost wages make the industry a risky area to venture in. The author cites findings from studies conducted by Stride Health; that claim that an estimate of thirty percent of people in the freelance economy prefers full-time jobs rather than part-time. The author explains that after the Great Recession in America, millions of Americans have been overwhelmed by part-tome work that is basically involuntary. The author cites studies from the University of New Hampshire that reported that seventy-five percent of the part-timers lived either in poverty or come from families that obtain low-income. Furthermore, experts make a claim that income tends to be unpredictable for individuals in the gig economy due to finding it difficult in meeting their normal bills.
The Freelancers Union, that has more than three hundred thousand independent individual s from various parts of America, is also cited whereby it claims that a freelancer tends to be strained an approximate amount of six thousand dollars on an annual basis. According to the unions founder, Sara Horowitz, freelance workers lack protection in the U.S. and that it may be difficult for individuals that are forced into joining freelancing. The author incorporates further studies by Stride health whereby he explains that it reported that, apart from receiving stiffed paychecks from their employers, freelancers also experience problems when registering for healthcare such that thirty-five percent of freelancers are not insured in addition to losing taxes. Also, the studies found out that most Uber drivers rarely take part in tax deductions and that eight-four percent of the drivers under Strides health coverage did not consider making any tax deductions. Furthermore, the studies reported that if the drivers made deductions in their work expenses, they would pay a more convenient percentage of 8.7 rather than the 25% that that currently pay. Some of the factors that the author considers that the Uber drivers may deduct include mileage, customers water bottles, tolls and also gas. Patrick Gillespie ends with the note that the main problem affecting gig employees is the lack of knowledge in regards to finances that might help them in traversing through various bureaucracies.
Gillespie, P. (2016). Millions in gig economy can't find better jobs or pay. CNN Money. Retrieved from http://money.cnn.com/2016/10/27/news/economy/gig-economy-workers/index.html?category=economy
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