Labor Economics: The Future of Work is Low-Budget Employment – BBN Times

by | Jun 26, 2022 | Financial

The future of work increasingly relies on short-term freelance contracts rather than full-time employment.

There are several jobs where employees believe they are not gainfully employed, because of the gap between their incomes and the cost of living. There are working people still depending on social services across communities, in the difficulty that the modern day labor situation presents.
The gig economy — or flexible working model for deliveries, rides and so on, has been unable to provide gainful employment across the board. For example drivers often spar about their employment status as well as percentages.
Some of the companies are not exactly profitable. Equilibrium between fair wages, cost of living, cost of doing business, union demands and profits is absent.
Proposals like universal basic income [UBI] where people are supposed to be given guaranteed income may not be thoroughly deployed for fears of inflation, since coronavirus stimulus payment, in a loose sort of UBI, continues to be costly to supply and consumer pricing.
Supply shortages may continue, regardless of interest rate hikes or not. Strikes, protests and unrest may sweep more places amid economic uncertainty, so the question is what can be done towards economic output?
Or, what can bring back supply across consumer goods, energy, agriculture, commodities and so on?
There are no easy answers, as anything presented could be rebuffed as unfair. However, any society that desires to make progress, adjustments could be made in this inflationary quagmire.
One possible area is tier economy, or a postulation to hire people in the same role, for the same shift, in the same position, on different tiers.
So in an organization, position A on level 1, which should have had just one person, would have 5 people: two on the first tier, one on the second, and two on the last; or, one on the first tier, one on the second and three on the last. The last tier would have no experience or skill in that role, but will be able to do basic operations as instru …

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