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The Downside of the Sharing Economy

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The Downside of the Sharing Economy

The Atlantic,

5 minutes de lecture
5 points à retenir
Audio et texte

Aperçu

If your income yo-yos from month to month, turn to the “gig economy” to offset pay dips.

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Editorial Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

Pioneering research from the JPMorgan Chase Institute has unveiled widespread monthly income volatility among Americans. Diana Farrell, the CEO of the JPMorgan Chase Institute, in conversation with Rebecca Rosen, a senior editor at The Atlantic, thoughtfully surmises the causes and effects of such fluctuations. getAbstract recommends Farrell’s insights to anyone whose income and expenditure yo-yo from one month to the next.

Summary

The JPMorgan Chase Institute, a think tank that conducts data-rich economic studies, examines the financial welfare of individuals, families, businesses and entire economies. While economists have long studied people’s annual income and expenditure, the institute evaluates these metrics on a monthly level, revealing that 70% of Americans experience income swings of at least 5% per month, and 25% undergo a 30% monthly income fluctuation. Such swings lead to grave liquidity volatility, especially among low-income earners. To withstand an unexpected rise in spending or fall in pay in a given month, the median US income ...

About the Speakers

Diana Farrell is CEO of the JPMorgan Chase Institute. Rebecca Rosen is a senior editor at The Atlantic.


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