These types of work arrangements have jumped markedly since 2005 and in fact the gig workforce grew from 10% of all jobs in 2005 to 16% today. On a numerical basis this represents nearly all of the job creation during the period 2005 through 2015. As such it should come as no surprise that consumer spending remains weak as does’ economic growth, the inevitable result of replacing well paid full time jobs with poorly paid part time ones.
This is Caleb Lawrence Registered Investment Adviser Scotts Valley Drive and Willis Road in the Scotts Valley Plaza, Suite 202 or call me toll free at 888-RICH PIG / 888-742-4744.
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