According to the Federal Reserve nearly one-third of adults are engaged in some type of gig work, commonly defined as temporary positions or contract jobs for short-term engagements. While gig economy work allows employees the flexibility to work on their own schedule, it doesn't provide basic benefits such as healthcare or retirement savings, since income isn't steady its hard to get loans, such as a mortgage, time worked often encroaches on family and personal time and there is no job security.
Capital One has recently awarded the Opa-locka Community Development Corporation (OLCDC) $30,000 to provide financial literacy and entrepreneurship for people in the gig economy workers.
The OLCDC will use the funds to teach people how to take advantage of the gig economy, help them manage their “alternative work arrangement” finances and provide support for those who want to turn their part-time work into a full-time business. As a part of the program, participants will also be able to access various other services offered by the OLCDC including tech certification/workforce development, social services, emergency relief and affordable housing.
Workshops and one-on-one counseling are expected to begin in early 2019. To sign-up, please contact Marcela Llinas at marcela@olcdc.org.