Major gig stocks including Uber and Lyft are falling today after a U.S. government proposal that could mean gig workers being classified as full-time resources.
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The proposal requires workers to be classified as employees instead of the current independent contractors.
The rule from the U.S. Department of Labor would, “Reduce the risk that employees are misclassified as independent contractors, while providing added certainty for businesses that engage with individuals who are in business for themselves.”
Being classified as full-time employees would enable access to benefits and protections while also curtailing wage theft for thousands of gig workers.
Here are some stocks that could be affected by this news:
- Uber Technologies (NYSE:UBER)
- Lyft (NASDAQ:LYFT)
- DoorDash (NYSE:DASH)
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