The Gig Economy

Nice Work

A full-time job was once the reliable route to prosperity and security. Prior to the current generation, workers often stayed with the same company for all or most of their careers. They brought home a dependable paycheck, advanced along a clear career path, and relied on their employers for health insurance, paid vacations and a retirement pension.

No more. Businesses now create fewer jobs: US job creation stayed at 1% from 2008 to 2015. Entrepreneurs start fewer businesses. Start-ups hire fewer people. Employers automate some tasks, and they avoid tax liabilities and benefit costs by outsourcing others to freelancers.

Relying on a single source of income can be risky. Instead, create your own career path and assemble a “portfolio” of freelance or contract jobs – “gigs.” Opportunities in the “Gig Economy” are growing: A study by economists at Harvard and Princeton found that the percentage of Americans in “alternative work arrangements” grew from 10% in 2005 to 15.8% a decade later.

Redefining Success

You need to do more than just getting a gig – you need to rethink your understanding of what constitutes a career. Instead of...