Gig economy

The gig economy is distorting U.S. economic data

Illustration of an employee badge and egg timer on a lanyard.
Illustration: Aïda Amer/Axios

Online shopping and the gig economy haven't just disrupted traditional brick-and-mortar business, they're disrupting the way U.S. job growth, wage data and inflation are tracked, asserts a new paper from the Dallas Federal Reserve.

What it means: There has been an increase in the number of workers in the gig economy who are either working as contractors or are self-employed, but report themselves as employed. These workers often have less bargaining power and lower wages than full-time employees.