"New Labor Rule to Impact Gig Worker Classification and Benefits"

The Biden administration's new labor rule reclassifies many independent contractors as company employees, entitling them to benefits like overtime pay and a minimum wage, which experts say will increase costs for employers and restrict workers' freedom to choose when and where they work. Proponents believe the change will curtail abuse from companies, but critics argue it will hamper the flexibility of freelancing positions and could push many current employees out of work entirely, potentially impacting the gig economy and leading to job losses.