Rising gig economy challenges one-job norms

One-job workers are increasingly finding themselves navigating challenges posed by the shifting gig economy landscape. 

The rise of the gig economy continues to reshape the traditional work landscape, challenging the established norms of single-job stability. CNBC's recent conversation with sociologist Alexandrea Ravenelle sheds light on the transformative impact of the gig economy as she underlines the hurdles faced by those anchored in conventional one-job roles.

In a candid interview, Ravenelle, a respected authority in this field, shares insights collected from her extensive research into this evolving job market. 

She dissects the decline of the one-job era and the burgeoning phenomenon of "poly-working," where individuals are compelled to navigate multiple jobs for financial sustenance. 

Her book, "Side Hustle Safety Net," draws from interviews conducted primarily in New York City during the Covid pandemic, offering a saddening portrayal of the challenges faced by workers in this new landscape.

Ravenelle's findings reveal the grim reality of the gig economy that the concept of retirement becomes elusive for workers. The promise of stability evaporates, replaced by a cycle where exhaustion or platform disengagement often signals the end of gig work, leaving workers without a safety net for their later years.

While the gig economy touts flexibility, Ravenelle highlights its concealed hardships. Workers struggle to accumulate savings due to unexpected tax burdens and the absence of employer-provided benefits like health insurance. 

Although the pandemic briefly offered relief through unemployment aid, allowing some gig workers to pivot to more stable occupations, many remain trapped in a cycle devoid of a clear path forward.

Ravenelle stressed that workers initially perceiving gig roles as temporary solutions often find themselves unable to re-enter traditional employment. Attempts to transition back are hindered as employers question the relevance of gig experiences, impeding a return to stability.

As the gig economy burgeons, Ravenelle's insights underscore a pressing need for a reassessment of work paradigms and policies. The glamorous allure of side hustles belies the financial strain and instability endured by workers navigating this shifting landscape. The plight of one-job workers amid the gig economy's rise demands proactive measures to ensure a more secure future for all.