Overview
- Goldman reports platform hours increased in 2025, with the largest gains in cities where payroll growth has cooled the most.
- Federal Reserve survey data show about 20% of people facing job loss, pay cuts, or reduced hours turned to gig work.
- Goldman estimates roughly 15% of those classified as unemployed or not in the labor force are doing gig work that is not fully captured in headline statistics.
- Expected earnings are lower on platforms, with pay averaging about 50% to 65% of prior hourly wages and typically lacking benefits.
- The bank warns platforms cannot absorb broad job losses if demand weakens, as trackers count about 1.1 million layoffs this year and the delayed September jobs report is due Thursday.