We are living in an a gig economy now.

With the possibility of lockdown coming rearing its ugly head, more and more people are relying on deliveries. Food being delivered, groceries, Amazon, beer and wine, convenience items, pretty much anything you need.

Armies of sub-contractors racing around in their personal vehicles making deliveries. Moms, dads, students, retirees all taking part in the scrum. Because that is what it is…..a scrum. All of the previously mentioned are fighting for the dollars that are out. And there are big dollars waiting what with the way the world is now.

Gig workers. Been around for ever. Self-employed people. My Dad was self-employed. His sons all went to college, got their degrees, got married, and the workplace. I wonder what my Dad say about what I am doing right now.

The Fed also found that gig workers are more likely to be financially fragile. Of people who use gig work as their primary source of income, 58% are considered financially fragile. That is, they would have difficulty handling an unexpected $400 expense or are using alternative financial services.

It’s not just multiple job holders; for 29% of US workers, their primary job is actually an alternative work arrangement. Of these, 23% full-time workers and 49% work part-time. According to the Bureau of Labor projections, the portion of gig economy workers will increase to 43% in 2020.

It’s the wild west, kids….