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Average monthly earnings for gig economy workers are in decline 

Sharing economy platforms like TaskRabbit and Uber are struggling to retain their workers—and now, we have a better idea as to why. Average monthly earnings for labor platform contractors have fallen 6% since June 2014, according to a new analysis by the JPMorgan Chase Institute.  The declining wages are due in part to increased competition, which has led … Continue reading “Average monthly earnings for gig economy workers are in decline “

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Sharing economy platforms like TaskRabbit and Uber are struggling to retain their workers—and now, we have a better idea as to why. Average monthly earnings for labor platform contractors have fallen 6% since June 2014, according to a new analysis by the JPMorgan Chase Institute. 

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The declining wages are due in part to increased competition, which has led to lower prices. (No wonder over half of Uber drivers quit within a year.)

However, the change in wages differs dramatically from city to city. In Atlanta, for example, average monthly earnings dropped 10% between June 2016 and June 2015, landing at $647. But in Los Angeles, over the same period, earnings rose 14% to $960. 

[Photo: Flickr user Renate Dodell]

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About the author

Senior Writer Ainsley Harris joined Fast Company in 2014. Follow her on Twitter at @ainsleyoc.

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