The gig economy is becoming an increasingly challenging option for workers facing potential job loss due to economic downturns. As competition among gig workers rises, average earnings are decreasing, making it harder for individuals to earn a livable wage through apps like Uber or Instacart. Many drivers, such as a Colorado-based gig worker, report significant drops in income, prompting them to seek more stable, full-time employment or alternative ventures. The rising costs associated with gig work, such as fuel and maintenance, further erode profitability, especially as workers rely on more lucrative trips during unfavorable weather conditions.
During her first year on Uber, the Colorado driver made about $66,000 in gross earnings, but in 2024, she earned half as much despite working similar hours.
Gig work provided a source of income for many workers during previous downturns, but this time, competition is higher and average earnings are falling.
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