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The Downside of the Sharing Economy
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The Downside of the Sharing Economy

Diana Farrell and Rebecca Rosen
The Atlantic, 2016
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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.

Take-Aways

  • A 2016 JPMorgan Chase Institute study revealed that 70% of Americans experience income swings of at least 5% per month, and only the top 20% of income earners have the means to cope with such income volatility.
  • Income volatility is pervasive, but it is most evident in low-income households and among younger people.
  • Job churn, paycheck frequency, variance in hours worked, and commission-based and contract work are responsible for most cases of income fluctuation.

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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