« Back to Blog
7 numbers that explain the sharing economy
A radical shift is underway in the U.S. and abroad, as more and more people forgo traditional institutions and offer services directly to regular people. Perhaps the most obvious instance is in the use of riding sharing apps such as Uber or Lyft. These companies have given folks around the country an opportunity to make money in an interesting new way.
Taking paid surveys is an easy means of paying for the many new products available. Make money from home online and in turn pay for a ride downtown, the delivery of your groceries or many other convenient new services. Here are some pertinent stats on the sharing economy to put this trend into perspective:
1. Sixty four percent
According to TIME, roughly 64 percent of Americans have utilized one or more service in the so-called sharing economy. In an online survey of 3,000 adults in the U.S. conducted in November 2015, around 42 percent stated that they had used services that fall under this umbrella. Another 22 percent of respondents had actually offered up these services themselves.
2. Thirty five or older
Not surprisingly, Bloomberg found that young people in the U.S. are by far the largest demographic when it comes to the sharing economy. More specifically, adults aged 18-24 - who make up a small sliver of the U.S. workforce - accounted for a major portion of users of and workers for services like Uber and Airbnb.
3. Thirty two percent
Ride sharing services are a major driver of this trend, as folks are opting for the convenience and low costs of apps like Uber, Lyft or Fasten as opposed to traditional taxis or public transit. All told, 22 percent of those polled had used a ride sharing tool at least once, and 10 percent had actually worked in the industry as a driver.
4. Two percent
Among folks who have worked in the service industry, just 2 percent reported negative opinions on the experience. On the flip-side of the coin, 71 percent of those polled had a positive experience.
5. Twenty five dollars an hour
Within the sharing economy, drivers for Uber and other apps reported a median hourly income of $25. The same was true for folks doing Airbnb or other "passive" activities, according to Bloomberg. For delivery services or on-demand cleaning and other jobs, the median compensation was between $15-18 per hour.
6. Eighty one cents
As of May 2014, the Bureau of Labor Statistics found that the median income for all occupations was $17.09 per hour, Bloomberg reported. Within the sharing economy, however, the median income is $18 per hour.
Roughly 1 in 3 people oppose government regulation for the various businesses in the sharing economy, according to TIME. Another 28 percent responded they were unsure, while 37 percent of those polled were in favor of government oversight.
Among folks working in this new industry, 49 percent were outright opposed to government regulation. Another 47 percent were in favor of some sort of legislation, and just 4 percent of folks who earn a living in the sharing economy were unsure.
« Back to Blog