They are called "microearners," reports Natasha Singer in The New York Times. They are the contingent workers in the Sharing Economy. They depend on assignments from the Ubers and TaskRabbits. Here is Singer's coverage of this growing phenomenon.
Like the rest of us free agents, the sharing-economy microearners live in high uncertainty.
Rarely do they know where their work with come from, how much of it they will do that week, and what will be the compensation.
This can hurt GDP growth. Long-term financial planning just doesn't seem in the cards.
Right now I have enough of a reserve for a down payment on a condo or eve a house here in Tucson, Arizona. I have a few clients on retainer. However, I hesitate to rock the financial boat and stop being the renter I have been since 2004. It was then that my successful communications boutique hit headwinds. I sold my house. I was grateful my FICO score had held up enough to get into a rental.
Can the innovative and effective Freelancers Union, started by Sara Horowitz, help us out? Can it build in more certainty for the contingent economy? Weekly I scan the Houses For Sale ads. It's unlikely I will make that move.