Freelance nation: When good jobs turn to bad
Watch closely: I’m about to demystify the sleight-of-hand by which good jobs were transformed into bad jobs, full-time workers with benefits into freelancers with nothing, during the dark days of the Great Recession.
First, be aware of what a weird economic downturn and recovery this has been. From the end of an “average” American recession, it ordinarily takes slightly less than a year to reach or surpass the previous employment peak. But in June 2013 -- four full years after the official end of the Great Recession -- we had recovered only 6.6 million jobs, or just three-quarters of the 8.7 million jobs we lost.
Here’s the truly mysterious aspect of this “recovery”: 21% of the jobs lost during the Great Recession were low wage, meaning they paid $13.83 an hour or less. But 58% of the jobs regained fall into that category. A common explanation for that startling statistic is that the bad jobs are coming back first and the good jobs will follow.
But let me suggest another explanation: the good jobs are here among us right now -- it’s just their wages, their benefits, and the long-term security that have vanished.