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  • 02.21.17

Intuit says the on-demand economy is only getting bigger

Intuit released its second annual on-demand economy report today. The company surveyed some 6,200 people working on Lyft, Amazon Mechanical Turk, Upwork, TaskRabbit, Wonolo, MBO Partners, OnForce, Work Market, Catalant, Field Nation, Kelly Services, and Avvo. Here are some key stats from the report: 

• 1 in 5 people come to the on-demand economy for work because they have fallen on financial hardship. 

• 41% of workers in this industry are female. 

• Average age of an on demand worker is 40. 

• 64% are white; 11% are black; 10% are hispanic; 7% are Asian; 9% identify otherwise. 

• 41% of on demand workers have either traditional full-time or part-time work. 

• 48% say that working on-demand gigs helps them to maintain their financial position rather than improve it. 

• 90% of workers love the freedom on determining their schedule and the way they work; only 50% are highly satisfied with this setup in practice.   

This report says to me that a good chunk of on-demand economy workers have turned to this industry because the traditional jobs market has failed them by cutting their hours or generally not providing enough work. Another 29% of workers are working on-demand jobs to pay off a medical expense, which means health care is also failing these Americans. While the gig economy seems to be helping certain people stay afloat in difficult times, for half of its workers, the on-demand economy seems like a shoddy band-aid. And this industry is set to grow. Intuit and partner Emergent Research predict the workforce will grow from 3.9 million Americans to 9.2 million in 2021.  RR