How the On-Demand Economy Is Reshaping the 40-hour Work Week
Intuit Study Shows Average Worker Relies on Three Income Streams
A new study from Intuit Inc., “Dispatches from the New Economy: The On-Demand Workforce,” shows that on-demand economy workers average 40.4 hours per week, but rely on three different sources of income to make up their entire paycheck. The typical work week includes a mixture of: on-demand work (34 percent), a traditional full or part-time job (30 percent), contracting and consulting (19 percent), and running a business (14 percent).
The new data comes from a study from Intuit Inc. (Nasdaq: INTU) and Emergent Research that examined people working via eleven on-demand economy and online talent marketplace companies. Study participants included: Deliv, Field Nation, Fiverr, HourlyNerd, MBO Partners, OnForce, Uber, Upwork (formerly Elance-oDesk), Visually, Wonolo, and Work Market.
“The on-demand economy is reshaping the way people earn a living, take control of their careers and support their families. From drivers, to designers, to management consultants – people have more opportunities than ever to supplement existing income streams or to take the leap into being their own boss,” said Alex Chriss, vice president and general manager of Self-Employed Solutions at Intuit. “But we must also recognize the shadows that have emerged. The benefits infrastructure of a generation ago was not built to accommodate the reality of work today. At Intuit, we’re committed to building new solutions that deliver certainty and stability for self-employed people who are stitching together different income streams.”