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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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Illustration: Sarah Grillo/Axios

Some freelancers can pull in more than $100 an hour for management consulting, programming or graphic design. Others struggle to make much more than $10 an hour, beholden to "gig work" platforms like Uber or TaskRabbit.

Why it matters: Being one's own boss, with the flexibility it brings, can be lucrative for people who can differentiate themselves from competitors. For the rest, it can be quicksand.

The big picture: Freelance work makes up nearly 5% of U.S. GDP, according to a new study commissioned by Upwork, a site for high-earning freelancers to find jobs. And more people than ever — 28.5 million people, or half the freelance workforce — say it's a long-term plan.

  • Freelancers who are "significantly better than average" at their jobs tend to do well, says Stephane Kasriel, Upwork's CEO. "Stronger pros can really dictate their terms."
  • Gig work apps capitalized on this dream to attract millions to their platforms: Work whenever you want to make some spending money on the side, they promised.

But for those without a rare or standout skill, reality hasn't quite panned out that way.

  • "People turn to this work, but it's not as lucrative as they think it's going to be," says Alexandrea Ravenelle, a UNC professor who interviewed dozens of workers for her recent book, "Hustle and Gig."
  • "I'm finding a considerable number of workers end up turning to gig work, they think, for the short term — and they're still doing it 4 years later," Ravenelle says. There's no time to network or send out resumes when you're spending every working moment hunting for the next job.

The bottom line: "Given that being in the traditional workforce typically comes with benefits and protections, I think most workers would be better off being there rather than having to constantly hustle for the next gig," says Ravenelle.

Go deeper

2 hours ago - Health

Biden says it's "not the time to relax" after touring vaccination site

President Biden speaking after visiting a FEMA Covid-19 vaccination facility in Houston on Feb. 26. Photo: Mandel Ngan/AFP via Getty Images

President Biden said Friday that "it's not the time to relax" coronavirus mitigation efforts and warned that the number of cases and hospitalizations could rise again as new variants of the virus emerge.

Why it matters: Biden, who made the remarks after touring a vaccination site in Houston, echoed CDC director Rochelle Walensky, who said earlier on Friday that while the U.S. has seen a recent drop in cases and hospitalizations, "these declines follow the highest peak we have experienced in the pandemic."

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: Most COVID-19 survivors can weather risk of reinfection, study says — "Twindemic" averted as flu reports plummet amid coronavirus crisis
  2. Vaccine: FDA advisory panel endorses J&J COVID vaccine for emergency use — About 20% of U.S. adults have received first vaccine dose, White House says — New data reignites the debate over coronavirus vaccine strategy.
  3. Economy: What's really going on with the labor market.
  4. Local: All adult Minnesotans will likely be eligible for COVID-19 vaccine by summer — Another wealthy Florida community receives special access to COVID-19 vaccine.
  5. Sports: Poll weighs impact of athlete vaccination.

The week markets went wild

Illustration: Lazaro Gamio

The markets just closed out a manic week.

Why it matters: Outsized — and in some cases historic — moves were evident across the board.

You’ve caught up. Now what?

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