Gig Economy Booms as Traditional Jobs Slow

Goldman Sachs report reveals gig work growth amidst cooling job market, as traditional payroll jobs slow down. Gig work hours surge in cities with slowing job growth, indicating workers taking on extra shifts. Over 150,000 job cuts announced in October, worst October since 2003, with tech and retail sectors hit hard. Despite official data showing lower employment numbers, about 15% of unemployed or not in labor force are actually doing gig work, highlighting the growing reliance on less stable, lower-paying roles.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.