Reuters reveals U.S. Labor Secretary’s support for classifying gig workers as employees

Business & FinancePolitics

President Joe Biden’s apical labour official, Labor Secretary Marty Walsh, told Reuters successful an interview that helium supported classifying a batch of gig workers successful the United States arsenic “employees”, suggesting for the archetypal clip a imaginable argumentation displacement that could rise costs for companies that beryllium connected contractors specified arsenic Uber and Lyft. “We are looking astatine it but successful a batch of cases gig workers should beryllium classified arsenic employees… successful immoderate cases they are treated respectfully and successful immoderate cases they are not and I deliberation it has to beryllium accordant crossed the board,” Walsh said.

Market Impact

Shares of Uber and Lyft fell arsenic overmuch arsenic 8% and 12% respectively aft the news.