"Biden Administration's New Labor Rule: Impact on Gig Economy and Contractors"

The Biden administration has issued a new rule that will require some workers to be treated as employees rather than independent contractors, a move that is expected to increase labor costs for industries relying on contract labor and freelancers. The rule, set to take effect on March 11, aims to crack down on industries where worker misclassification is common, but has drawn criticism from business groups for potentially depriving workers of flexibility and opportunity. Companies like Uber and Lyft have expressed concerns about the rule's impact on their gig labor models, while the U.S. Chamber of Commerce is considering challenging the rule in court.