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☆ A Cleveland Uber driver who made $109,000 in 2023 but took home only $17,000 shares the 3 reasons he can't quit ride-hailing: 'I continue to run into a brick wall'
▼ + stars: | 2024-04-29 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

A Cleveland Uber driver made over $109,000 in gross earnings last year but took home only $17,000. He said Uber driving had become less profitable but that he wasn't sure he could find a better job. AdvertisementGeorge, a full-time Uber driver in Cleveland, wants to quit his ride-hailing gig. Last year, George made more than $109,000 in gross earnings as an Uber driver, according to documents viewed by BI. But after Uber's commissions, car maintenance, gas, and miscellaneous driving expenses were accounted for, he took home roughly $17,000, about 16% of his gross earnings.

Persons: Uber, —, George, he'd, isn't, that's, There's, He's Organizations: Service, Uber, BI, of Labor Statistics, BLS Locations: Cleveland, Minneapolis, Minnesota, Twin Cities

☆ Why so many men in the US have stopped working
▼ + stars: | 2024-04-28 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +10 min

AdvertisementIt could be all about recessionsSince the 1950s, whenever the US economy fell into a recession, the rate of working men tended to suffer a lasting blow. AdvertisementWhy have recessions appeared to have such a lasting impact on working men? The strong recovery of men working after the pandemic recession could be due to the unique nature of this downturn — which tanked an otherwise healthy economy. And of course, some lucky prime-age men aren't working because they've had a lot of financial success — and already retired. Deciphering how much these explanations have fueled the decline of working men could be worthy of further explanation, the economists said.

Persons: —, It's, Abigail Wozniak, Wozniak, David Autor, There's, Jason Furman, Barack Obama's, Elise Gould, Gould, aren't, we've, John M, Coglianese, they've Organizations: Service, Federal Reserve Bank of Minneapolis, Massachusetts Institute of Technology, Washington Post, of Labor Statistics, San Francisco Fed, BLS, Economic, Economic Policy Institute, Federal Reserve

☆ Meet the typical new entrepreneur: A young woman living in the South who's doing it as a side hustle
▼ + stars: | 2024-04-24 | by ( Jacob Zinkula | Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

The newest entrepreneurs are both young and old and looking to grow their wealth through their businesses. The share of new Hispanic entrepreneurs rose from 8% in 2022 to 13% in 2023, Gusto found. Many new entrepreneurs are open to using AI tools and hiring remote workers, per the Gusto survey. The share of entrepreneurs who started a business while juggling another gig rose from 27% in 2022 to 44% in 2023. The Babson report found that most US entrepreneurs, 71%, were motivated by the prospect of boosting their wealth through their businesses.

Persons: They're, —, Ewing Marion, Luke Pardue, Babson, Entrepreneurship isn't Organizations: Service, Bureau of Labor Statistics, Babson College, Midwest Women, Pew Research Center, Ewing Marion Kauffman Foundation, Bureau, Kauffman Foundation, Entrepreneurs, Business Administration, Entrepreneurship Locations: Midwest, New Hampshire, Minnesota, Montana, Northeast, West

☆ A millennial who made $225,000 secretly working 2 remote jobs shares why he decided to give up overemployment: 'The juice wasn't worth the squeeze'
▼ + stars: | 2024-04-20 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

But he had a lot of downtime — and he's "not good with having a lot of downtime," the 37-year-old told Business Insider. Roughly three months later, he was secretly working two full-time remote jobs and earning about $225,000 a year in combined income. Luke wasn't sure if his job juggling had been exposed or if the company just changed its mind — he never found out. However, after weighing the challenges the hybrid policy would present, in addition to the other downsides of job juggling, Luke ultimately decided that "the juice wasn't worth the squeeze." AdvertisementAre you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?

Persons: —, Luke, jugglers, Luke wasn't, wasn't, peeking, didn't, I'm, it's Organizations: Service, Business

☆ A millennial who moved to Canada for the quality of life shares why he wants to go back to Texas — and why he regrets not waiting to relocate until later in life
▼ + stars: | 2024-04-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

A millennial moved from the South to Montreal in 2015 to "get cultured" and attend graduate school. He said food, safety, healthcare, and quality of life are the biggest perks of living in Montreal. But he said he wants to move back to Texas for the weather, lower cost of living, and his family. In recent years, millions of Americans have moved south. "I wish we lived in Texas now and moved to Canada later in life," Linton said.

Persons: —, Dexter Linton, Linton, haven't, who've, it's Organizations: Service, Business, Lone Star State Locations: Montreal, Texas, Arlington , Texas, Kansas, Georgia, South Carolina , Florida, Canada, Linton

☆ AI could split workers into 2: The ones whose jobs get better and the ones who lose them completely
▼ + stars: | 2024-04-15 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Lower-income workers without a college degree could be at the most risk of AI job replacement. AdvertisementNothing is certain about the future of AI technologies, but three things are becoming more clear. That said, if and when some AI job replacement does come, some workers could be more at risk than others. Conversely, 17% of high school graduates had jobs with high AI exposure, and 14% had jobs with both high AI exposure and low performance requirements. Re-training workers who lose their jobs due to AI could help move the needle in a more positive direction.

Persons: —, It's, Angus Deaton, Deaton, he's Organizations: Service, of Economic Advisors, Walmart, Target Locations: China

☆ 6 people who made up to $500,000 a year secretly working multiple remote jobs share why they don't feel guilty — and why there's nothing wrong with 'overemployment'
▼ + stars: | 2024-04-13 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

Read previewIf you could double your income by secretly working multiple remote jobs, would you do it? The share of US remote job postings on LinkedIn fell from over 20% in April 2022 to about 10% in December 2023. AdvertisementWilliam, a Texas-based tech worker in his 30s who told Business Insider he earned over $500,000 in 2022 secretly working multiple remote roles, agreed with this line of thinking. Steven said he didn't feel guilty about job juggling because he was still able to complete all the duties and tasks assigned to him. AdvertisementAre you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?

Persons: —, jugglers, shouldn't, they're, There's, Joseph, hadn't, Joseph isn't, Robert, John, he'd, there's, it's, Steven, overemployment, William, Justin, Xer Organizations: Service, Business, LinkedIn, Amazon, Google, Elon Locations: Florida, California, Asia, Texas

☆ The best use of generative AI for office workers so far could be relieving a massive productivity drain: meeting overload
▼ + stars: | 2024-04-09 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Many workers say meeting overload can hurt their productivity. Microsoft's research suggests that using AI tools to chip away at meeting time could be the low-hanging fruit for some new adopters. Meetings summaries aren't the only way AI tools are helping workers save time. AdvertisementA Slack survey of over 10,000 global desk workers conducted in January found that 24% had tried using AI tools on the job. The learning curve that can come with AI tools is why some companies are providing employees with more training resources and encouraging them to experiment with these technologies.

Persons: —, they'd, Steven Rogelberg, Rogelberg, HubSpot Organizations: Service, Microsoft, Wakefield Research, Business, University of North Locations: North America, Europe, University of North Carolina, Charlotte

☆ A millennial who made $170,000 secretly working two remote jobs says it helped him pay off about $50,000 in student loans
▼ + stars: | 2024-04-06 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

This made it possible for him to reduce his loan balance by over $50,000 — he has about $65,000 left in student debt as of March, he told BI via email. That December, he stumbled upon a YouTube video that provided him with the idea he'd been looking for: He could try to secretly juggle multiple remote jobs simultaneously. As for his student debt, his repayment goal is right on schedule. Advertisement"I'm expecting to have all my student loans paid off before Christmas," he said. Are you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?

Persons: —, Adam, he'd, he's, didn't, overemployment, it's, — didn't Organizations: Service, Business, LinkedIn Locations: Arizona

☆ Don't secretly work multiple jobs if you want to advance in your career, overemployed workers say
▼ + stars: | 2024-03-30 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Some people have made as much as $500,000 a year secretly working multiple remote jobs. "There is a certain level you cannot be at to perform well on multiple jobs," Robert said. AdvertisementBut life is full of tradeoffs, and that's as true as ever for the people secretly working multiple remote jobs. Overemployment can provide workers with valuable experienceNot every overemployed worker agrees that working multiple jobs is bad for career advancement. AdvertisementAre you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?

Persons: —, Robert, who've, They've, jugglers, William, John, he's, Justin, wasn't, I'm Organizations: Service, Business Locations: Florida, Texas, California

☆ An athletic scholarship and NIL deals aren't going to pay for your kid's college tuition. Here are the odds they're up against.
▼ + stars: | 2024-03-23 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

Many of these student-athletes have full-ride athletic scholarships that cover their tuition and fees, course-related books, and room and board. What's more, landing an athletic scholarship often isn't enough to fully pay for one's college education. While 2% of high-school athletes receive an athletic scholarship, Strasman said only about 1% receive a full-ride scholarship that fully covers expenses like tuition, books, and room and board. While any scholarship money is better than none, there's no guarantee those funds will be there all four years. "I would say likely the kids that have the biggest paydays that we're hearing about are often already on scholarship," Strasman said.

Persons: —, it's, Lisa Strasman, Strasman, Strassman, there's, University of Iowa's Caitlin Clark, Clark, Bill Carter, haven't Organizations: Service, Business, Power, NCAA, University of Iowa's, Sports Business

☆ A Texas millennial wasn't satisfied with his dating life. He said things changed when he started earning $100,000 a year.
▼ + stars: | 2024-03-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

A Texas millennial says his dating life improved when he started making more money as a pharmacist. AdvertisementWhen Benjamin Gibson was in his early 20s, he didn't have much success in the dating scene. Gibson isn't the only American who thinks a strong career and financial profile could help their dating success. "I do feel better because it took me time to have confidence, even after I started working as a pharmacist." Has career success helped your social or dating life?

Persons: —, Benjamin Gibson, Gibson, he'd, Pinghui Wu, he's, doesn't Organizations: Service, Business, Bureau of Labor Statistics, Federal Reserve Bank of Boston, Boston Fed Locations: Texas, Virginia

☆ Uber and Lyft are threatening to leave Minneapolis over a ride-hailing proposal supporters say would guarantee drivers earn the city's minimum wage
▼ + stars: | 2024-03-13 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +10 min

The conversation around ride-hailing driver pay has been heating up across the country over the past year. AdvertisementLoren Balazs, a full-time driver in Minneapolis, told BI he's worried the city council's proposal would hurt his ride-hailing business. The study estimated that a minimum pay rate of $1.21 per mile and $0.49 per minute would guarantee drivers earned the city's minimum wage. AdvertisementThe debate over minimum pay for ride-hailing drivers has been building in Minneapolis for over a year. Tim Walz vetoed a bill that would have established minimum pay standards for Uber and Lyft drivers.

Persons: —, Erin Hatton, Jacob Frey, Lyft, Lyft haven't, Uber, behemoths wouldn't, aren't, Axios, Alexandrea Ravenelle, Sergio Avedian, Guy, Austin, Avedian, Joe Pierce, he'd, Loren Balazs, Sheri Wegner, they'll, Mayor Frey, Tim Walz Organizations: Service, Business, University at Buffalo, Minneapolis City Council, Minneapolis, New, Seattle, Minnesota, University of North, Star Tribune, Minnesota Gov, Uber, Minneapolis City Locations: Minneapolis, Minneapolis ? Minnesota, New York City , Washington, California, Chicago and Massachusetts, Washington, Seattle, Minneapolis . Washington, Alexandrea, University of North Carolina, Minnesota, Twin Cities

☆ Meet an atypical overemployed worker: A millennial woman earning $95,000 secretly working 2 non-tech jobs
▼ + stars: | 2024-03-06 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

A millennial woman started secretly working a second remote job in January to boost her income. Nicole is among a niche group of people secretly working more than one remote job and getting away with it. This year, the Washington-based 30-year-old is on track to earn nearly $100,000 across two remote jobs, according to documents viewed by Business Insider. Differences in gender roles and expectations could also be holding some women back from pursuing overemployment, Nicole said. Are you working multiple remote jobs at the same time and willing to discuss details about your pay and schedule?

Persons: —, Nicole, she's, overemployment, hasn't, jugglers, doesn't, Overemployment, she'd, She'd Organizations: Service, Fortune, LinkedIn, Business, WomenTech Network Locations: Washington, overemployment

☆ Meet the typical overemployed worker: A male millennial making six figures annually across multiple tech jobs — who's fighting burnout for the extra income
▼ + stars: | 2024-02-23 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Who are these overemployed workers? AdvertisementOveremployed workers tend to be male millennials in tech or IT jobsNearly all of the overemployed workers Business Insider has spoken with have been men. "In the IT world, we never really work a full 40 hours a week," a former overemployed worker previously told BI. The typical overemployed worker is making between $100,000 and $500,000 across up to four jobsFor most overemployed workers, job juggling isn't worth the stress unless they're very well compensated. One millennial earned over $500,000 across four non-simultaneous jobs, while another worker earned over $820,000 across three roles.

Persons: —, Louis Fed, Zers, Xers, Zer, Xer, overemployment Organizations: Service, Business, of Labor Statistics, WomenTech Network Locations: St

☆ A Wisconsin Uber driver explains why the most profitable time to work is when 'you don't want to drive'
▼ + stars: | 2024-02-22 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

A Wisconsin Uber driver said working inconvenient hours gives him the best chance to make money. AdvertisementFor Ken Morris, an Uber driver based in Green Bay, Wisconsin, embracing unideal working hours is the best way to make money as a ride-hailing driver . “If you don’t want to drive, that’s probably when you should be driving,” Morris, 49, told Business Insider via email. In 2022, he took home roughly $14,000 as an Uber ride-hailing driver — about $1.1 per online mile driven — according to a document viewed by BI. These income figures include tips and bonuses and don’t account for driving expenses like gas, maintenance, and depreciation.

Persons: Uber, —, Ken Morris, ” Morris, Morris, he’s, it’s, I’ve, haven’t, Lyft, Tipping, ”, Morris wasn't, he’d, Gridwise, it's Organizations: Service, Uber, BI, “ Locations: Wisconsin, Green Bay , Wisconsin

☆ The average Uber and Uber Eats driver saw their earnings decline over 15% in 2023, per Gridwise
▼ + stars: | 2024-02-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

Over the past year, Uber drivers have told Business Insider that it’s gotten harder to make money . Gridwise told BI these earnings reflected the amount drivers took home after Uber took its cut of drivers' gross earnings. The average Uber driver’s earnings before expenses declined from $29 an hour in 2022 to $25 in 2023. Meanwhile, the average Uber Eats driver’s earnings fell from roughly $20 to $18 an hour before expenses — the average driver worked 27 hours a month. While Uber drivers saw the largest year-over-year decline in monthly pay, the average driver’s $25 an-hour earnings before expenses were still higher than any other gig.

Persons: Gridwise, Uber, it’s, haven’t, Lyft Organizations: Business, Bureau of Labor Statistics

☆ A boomer Uber driver made over $100,000 but lost $80,000 to expenses and commissions. He shares why he plans to keep driving.
▼ + stars: | 2024-02-05 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

But after Uber took its cut and his driving expenses were accounted for, his profits fell to about $20,000. How commissions and driving expenses reduce drivers' profitsOf Ceran's roughly $83,000 in total business expenses, $38,000 consisted of Uber's booking and service fees — effectively the commission the company takes from drivers' earnings. After accounting for Uber's commission — and before expenses — Ceran saw as much as $65,000 in Uber income enter his bank account in 2023. The $44,000 deduction was an estimate for tax purposes, so it's possible his true vehicle expenses weren't quite that high. His first year driving Uber, 2016, was more eventful than anticipated: He got caught in Hurricane Matthew while driving in Norfolk, Virginia.

Persons: —, Ceran, Kia Forte, Uber, he's, they're, Lisa Greene, Lewis, Greene, — Ceran, he'd Organizations: Service, Business, BI Locations: Virginia, Hurricane, Norfolk , Virginia

☆ A boomer Uber driver made over $100,000 but lost $80,000 to expenses and fees. He shares why he plans to keep driving.
▼ + stars: | 2024-02-05 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

A boomer Uber driver's business had over $100,000 in earnings but only $20,000 in profits. But after Uber took its cut and his driving expenses were accounted for, his profits fell to about $20,000. The $44,000 deduction was an estimate for tax purposes, so it's possible his true vehicle expenses weren't quite that high. AdvertisementThat said, commissions and driving expenses took a significant cut out of his business's profitability. His first year driving Uber, 2016, was more eventful than he anticipated: He got caught in Hurricane Matthew while driving in Norfolk, Virginia.

Persons: boomer, —, Dean Ceran, Kia Forte, Uber, he's, Ceran, it's, haven't, they're, Lisa Greene, Lewis, Greene, — Ceran Organizations: Uber, Service, BI Locations: Virginia, Hurricane, Norfolk , Virginia

☆ Meet the typical gig driver: A millennial earning up to $40 per hour who doesn't have another job and depends on your tips
▼ + stars: | 2023-10-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

Gig drivers are likely to be dependent on the job for their main income, and need your tips. Omar FordIf the economy takes a turn for the worse and unemployment rises, the number of gig drivers could increase even further. The typical gig driver earns between $20 and $40 an hourSergio Avedian. The typical Uber driver earns $35 per active — or utilized — hour, the company said in February. In September, four ride-hailing drivers told Insider that they earn between $22 to $40 an hour after expenses.

Persons: —, DoorDash, Lyft, Omar Ford, Uber, he'd, Robert Alexander, Gen Zers —, Sergio Avedian, Guy, doesn't, New York City, they've, Nathaniel Hudson, Hartman Nathaniel Hudson, Hartman, Jeff Hoenig, Avedian Organizations: Service, Morning, Pew, New York Daily News, Tribune, Getty, Bank of America, The New York Times Locations: Los Angeles, New York, New York City Ribeiro, New, South Carolina, Portland

Some childcare operators told Insider the end of pandemic-era funding could make the problem worse. To keep the doors open at her Southampton Township, New Jersey, childcare center, she needs to find new clients or new funding. Jackson is just one of many providers across the US entering a period of uncertainty after a pandemic-era infusion of federal childcare funding ran out at the end of last month. That funding expired on Saturday, along with $13.5 billion in childcare funding from other pandemic-era legislation. She added: "What we're likely to see is childcare providers doing everything they can to continue to operate.

Persons: —, Jackson, Patti Smith, Joe Biden's, they'd, Allyx Schiavone, Lauren Bauer, Molly Kinder, Julie Kashen, Kashen, Schiavone, Cristi Carman, they're, Carman, Shannon Hampson, Hampson, we're, Rep, Katherine Clark, Julia Pollak, ZipRecruiter, there's, Grant Organizations: Service, Greenway, National Association for, Education of Young Children, Rescue, Friends Center for Children, American Progress, Brookings Institution, The Century Foundation, Care, American Locations: Southampton Township , New Jersey, Maryland, Lincoln , Nebraska

☆ The typical NYC family is spending more than 25% of its income on childcare — triple what's deemed affordable
▼ + stars: | 2023-09-12 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

New York City families are spending over a quarter of their income on childcare. The typical New York City family is spending over 25% of its income to pay for the childcare of just one kid, according to data from the Department of Labor . For its New York City childcare expenses to meet the federal standard for affordability, a family would need to earn roughly $300,000 per year. AdvertisementAdvertisementCindy Lehnhoff, director of the National Child Care Association, previously told Insider that more funding — not changing ratios — is what's necessary to resolve the national crisis. Are you struggling to afford childcare or finding creative solutions?

Persons: Robin Hood, Taryn Morrissey, Cindy Lehnhoff, Lehnhoff Organizations: Service, Department of Labor, New, Robin Hood Foundation, American, Century Foundation, American University, National Child Care Association Locations: York City, Wall, Silicon, New York City, New, Kansas

☆ Bosses are tracking how long you're working — and using it to judge your performance. It's a terrible way to get the best out of workers.
▼ + stars: | 2023-09-07 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Many companies with remote or hybrid workforces use tracking software to monitor their workers. An MIT lecturer said tracking hours wasn't a good productivity measure. As office attendance and productivity tracking become increasingly common, more companies are using it to evaluate, discipline, and even fire employees. About three-quarters of respondents in the ResumeBuilder.com survey said they had fired employees based on findings from their tracking software. But if US companies are truly concerned about maximizing their employees' productivity, some of them may be doing it all wrong.

Persons: —, they're, Slack, Aaron Terrazas, Terrazas, Robert C, Pozen, Paul Rubenstein, Rubenstein, Stacie Haller Organizations: MIT, Service, Tech, Meta, Employees, MIT Sloan School of Management Locations: Wall, Silicon

☆ TSMC's Arizona plant is delayed over poor management, not a shortage of US skilled labor, workers building it say
▼ + stars: | 2023-08-23 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +11 min

TSMC, however, has maintained that the incoming Taiwanese workers will not be a threat to US jobs. The pipe cutter said that TSMC and its key contractors were largely to blame for the management problems. After complaining about one safety issue for two straight weeks, he said, he spoke with a company safety representative. And then you go to degown, and they don't have your hanger or somebody took your hanger," the pipe cutter said. He added: "It's not like we're against the Taiwanese workers or anything.

Persons: TSMC, they're, it's, didn't, he's, —, they'd, they've, Everyone's, we're, It's, Luke Kasper, Arizona Organizations: Service, Taiwan Semiconductor Manufacturing, Arizona Pipe, Intel, New York Times, Times, American Prospect, TSMC Locations: Arizona, Wall, Silicon, chipmaker, TSMC, Taiwan, United States, degown

☆ The world's largest chipmaker promised to create thousands of US jobs. There are growing tensions over whether US workers have the skills or work ethic to do them.
▼ + stars: | 2023-08-16 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Differences in US and Taiwanese work culture could pose another challenge. Some TSMC workers are doubtful that Americans can adjust to the challenging work environment. It's not just a disagreement over expertise that poses risks to TSMC's Arizona chip plant. This is the work culture." It added: "We have not replaced any of our local workers with foreign workers and continue to prioritize the hiring of local workers in Arizona."

Persons: TSMC, chipmaker, It's, Morris Chang, Wayne Chiu, Fortune, they're, Mark Liu, TSMC's, Liu, chipmaker Chang, Adam Ozimek Organizations: Service, Taiwan Semiconductor Manufacturing Co, New York Times, Times, YouTube, Taiwan, Taiwan —, Brookings Institute, Arizona Pipe, Economic Innovation Group Locations: Arizona, Wall, Silicon, Taiwan, Taipei, Taiwanese, Asia, Oregon, America, Phoenix

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