(Editor’s Note: Robert Reich has been a media pundit, lecturer and writer popular with progressives. From time to time he hits home as with this post on the lack of income predictability for a growing segment of Americans. It is now 40 percent, but soon to be a majority of workers, according to Reich. Here’s a snippet. Click through to read the entire post).
As Labor Day looms, more Americans than ever don’t know how much they’ll be earning next week or even tomorrow.
This varied group includes independent contractors, temporary workers, the self-employed, part-timers, freelancers, and free agents. Most file 1099s rather than W2s, for tax purposes.
On demand and on call – in the “share” economy, the “gig” economy, or, more prosaically, the “irregular” economy – the result is the same: no predictable earnings or hours.
It’s the biggest change in the American workforce in over a century, and it’s happening at lightening speed. It’s estimated that in five years over 40 percent of the American labor force will have uncertain work; in a decade, most of us.