Labor secretary statement on independent contractors a preview of policy shifts
Walsh speaks and the market reacts, but the big events still lie ahead Photo: Jim Allen/FreightWaves
A statement by Secretary of Labor Marty Walsh last week about the question of gig workers versus full-time employees sent the stock prices of several companies heavily reliant on independent contractors plummeting.
But beyond that immediate reaction, the statement and what occurred in its wake can be seen as one of the first significant developments in what will be a key labor issue facing the Biden administration and by extension those industries that rely on independent contractors for much of their workforce.