Inflation is helping gig companies like Uber — and hurting their workers

, a professor at the State University of New York at Buffalo who studies labor and the gig economy. “That would in general have pretty significant negative consequences for workers who are already there and the workers that are coming in. There is going to be a finite amount of work.”Executives at Uber, Lyft and DoorDash all said during recent earnings calls that economic pressures had an upside for their companies, bringing those who are seeking extra income to their platforms.

The “gig economy” is a loose term for the ecosystem of technology platforms and informal networks that connect independent workers with piecemeal jobs.Millions of Americans have found piecemeal work as independent contractors for decades, but the rise of companies such as Uber, Lyft and DoorDash has made it even easier for people to find gig work easily.

It is unclear if or when a recession is coming. Unemployment is low, but the government stimulus that helped many weather the pandemic has dried up. Rising prices have made many Americans, especially those with lower incomes, focus their spending on gas, food and other necessities.

hiccup. “I have been earning more with Lyft, but the problem is that the pandemic is getting more and more expensive,” she said, adding that her earnings have been good. Faced with the increased cost of living and high gas prices, drivers have to work harder than before just to rack up diminishing returns. More drivers means fewer opportunities, they say, as they struggle to find lucrative trips because so many peers are battling to scoop up the best fares.

They can unionize !

Like everyone else and it’s going to get worse thanks to the democrats and the “inflation bill”

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Cramer: The Inflation Reduction Act is really a tax on companies and shareholdersStock-owning Democrats should be as appalled as stock-owning Republicans because this bill alone could be worth 150 basis points more of Fed tightening. Cramer: “I’m not political” while undermining everything Biden does. Anyone watch his shows when Biden was trying to get big oil to lower the price? The price has come down significantly now what jimcramer ? The inflation increase act And corporations will pass along those higher taxes with price increases. Price increases are easy in highly inflationary times.
Source: CNBC - 🏆 12. / 72 Read more »