gig economy

The gig economy has reached health care.

Hospitals were overrun with patients in critical need during the pandemic, causing nurse-to-patient ratio policies to drop and forcing nurses to attend to more patients.

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Uber, Lyft and other ride-hailing and delivery companies won their bid to keep drivers as independent contractors in what became the most expensive initiative in California history, with $200 million spent and led by the app-based services.

The initiative won decisively with 58% of the vote in a test for the tech-driven "gig economy" that is central to ride-hailing companies business model.

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University of California, Los Angeles economists say the glass is half full for the U.S. economy — at least for now.

The quarterly UCLA Anderson Forecast released Wednesday wanly touted a "better-than-expected outcome" for the U.S. economy in the near term, a major upgrade from the last report's forecast of a "depression-like" crisis for the economy. But the new, relatively optimistic assessment is highly reliant on how the pandemic progresses, the authors cautioned.

California's economy is broadly expected to mimic the nation's so long as pandemic-related shutdowns dissipate in 2021. Still, the optimistic outlook doesn't expect a full recovery for California until after the end of 2022, when economists forecast state unemployment will remain close to 6%, compared to just under 5% for the U.S. overall.

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