Poorly paid gigs
Ride-hailing services likes Uber and Lyft are pretty bad news for driver remuneration. That’s because from 2013 to 2018, driving income fell precipitously from an average $1,500 a month to just $762 in the US, according to JPMorgan Chase Institute, a public good organisation.
And ride-hailing stands out from other parts of the ‘gig economy’ such as home services and home rental, that also registered volatile income for workers during the period but showed no strong trends.
“Our findings indicate that regardless of whether or not platform work could in principle represent the ‘future of work’, most participants are not putting it to the type of use that would usher in that future,” says the institute.
e-Overview: The gig economy isn’t necessarily the good economy, despite the views of the ‘flexible working’ boosters. This research comes on the heels of a recent University of Oxford report which suggests that gig economy autonomy can often come at the price of irregular and anti-social hours, leading to illness. Flexible shouldn’t mean unregulated.
Image: JPMorgan Chase Institute