In my recent The Week column, I offered Democrats (Hillary Clinton, for one) and the media some advice: Stop freaking about the “gig” economy. We are not yet a nation of freelancers, independent contractors, or part-timers. Or anywhere close, according to the data. But it is a great “anxiety of the month” for politicians to hype, especially if they think their party gains from voter economic insecurity. Indeed, “gig” economy sounds like a terrible thing, as opposed to the “sharing” economy. And Uber- and Lyft-using journalists are, of course, wondering if the sharing economy might somehow be the next disruptive technological wave to sweep over their profession. So it’s a real Acela Corridor issue.
And the Wall Street Journal seems to agree:
Far from turning into a nation of gig workers, Americans are becoming slightly less likely to be self-employed, and less prone to hold multiple jobs. Official government data shows around 95% of those who report having jobs are accounted for on the formal payroll of U.S. employers, little changed from a decade ago. If Uber and its ilk were fundamentally undermining the relationship workers have with employers, that shift would be showing up in at least some of the key economic indicators. Hundreds of thousands of Americans, or even a few million, may have dabbled in the gig economy, but in the context of the 157 million-strong U.S. labor force, the trend remains marginal.
Reporters Josh Zumbrun and Anna Louie Sussman dig into stats — also reflected in the above chart — echoing what I wrote for The Week. But I doubt this data will do anything to slow down progressives from proposing a “new social contract” — meaning lots of costly new mandates — between workers and employers. Very similar to how they are quick to call for a universal basic income because automation will leave vast numbers of workers without jobs or at least good-paying ones. Maybe someday, but not today. And as this business model evolves, I worry about hasty regulations harming this nascent sector. Why wait for the facts to catch up to our smart policy proposals, right? Again, me in The Week:
Think about the big economic challenges facing America. The share of adults with any kind of job tumbled during the Great Recession and has barely recovered. Productivity growth — the basic driver of rising living standards — has been stagnant for a decade. Then there’s the ginormous national debt, $18 trillion and counting. (Just to name a few.) But where in America’s perceived panoply of economic problems does the “gig economy” rank?
Not very high, at least not yet.
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