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Dispatches from the New Economy

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Preview of Intuit's second annual study of people working in the On-demand Economy.

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Dispatches from the New Economy

  1. 1. Dispatches from the New Economy Intuit’s Second Annual Study of People Working in the On-Demand Economy, prepared in partnership with Emergent Research The on-demand economy is part of a broader rise in self-employment. • Full and part-time self-employment makes up 55M (36%) of the U.S. workforce. • There are an estimated 3.9 million Americans working in the on-demand economy (ODE). • By 2020 there will be 7.7M people participating in the ODE. This is a 19% annual average growth rate. The majority of on-demand economy work is part-time. • The average person working an on-demand job spends 11 hours per week working for their primary on-demand economy partner company. • 41% have either a traditional full-time job (27%) or part-time job (14%) in addition to their on-demand economy work. • The average gig worker earns 24% of their household income via on-demand economy work. ! 55M 36%
  2. 2. Dispatches from the New Economy People working in the on-demand economy have a range of different motivations, including: • 24% want to earn money on the side – they’re most likely to also have a traditional job. • 21% are trying build a business or be their own boss – they use on-demand work to supplement their income or test out their business idea. • 20% are career freelancers who embrace the opportunity to try new platforms and learn new skills. • 19% turn to on-demand work because they’re having trouble finding traditional work. • 17% are motivated by the opportunity to work on projects they feel passionate about — they tend to be well educated and earn the most per hour of any group. People are generally satisfied and plan to continue working in the on-demand economy: • 81% say they plan to continue their on-demand work for at least the next 12 months. • 67% are highly satisfied (50%) or satisfied (17%); only 23% are dissatisfied. • 38% say they are better off thanks to on-demand work; 48% about the same; 14% worse off. Methodology: A total of 6,247 people working with 12 on-demand platforms completed an online survey between September 20th and November 18st, 2016