For example, 24 percent of informal workers in the EIWA survey indicated that contingent work had offset their spells of unemployment, loss of working hours, loss of benefits, or frozen wages in their formal employment “very much” or “somewhat.” In addition, three-fourths of Uber drivers say that the greater control over their work schedules that Uber allows has made their lives better.12 However, there are likely many workers who would prefer regular full-time traditional work to contingent work, particularly if much of the power in determining hours worked in alternative work arrangements belongs to the employer.
The third channel is that the recent monetary easing measures, through their effect on business and household sentiment, will underpin the economy. The recent measures are likely to have been effective in stabilizing the sentiment of firms and households, which have been worried about the adverse effects of the slowdown in overseas economies and the appreciation of the yen.