From Fortune:

The Biden administration implemented a new rule to prevent workers from being misclassified as contractors. This rule could lead to better legal protection and compensation for U.S. workers, replacing a Trump-era standard that lowered requirements for employee classification. The change could impact companies like Uber and DoorDash. Financial markets didn’t show much reaction, and the new rule will take effect on March 11. The new rule considers six criteria for determining worker classification but isn’t as binding as legislation passed by Congress or state legislatures.



Read more: Biden’s Labor Department makes new rule on ‘independent contractors’