New Report Finds Gig Economy Accounts for 34 Percent of US Workforce

The recipient of a bachelor of science degree in accounting from Miami University, Theodore "Ted" Catino is an entrepreneur who founded Specialty Auto Finance Company and is a founding partner of Boston's 625 Investments, LLC. Ted Catino's latest venture is GigSmart, a mobile application which connects employers with individuals seeking short-term, flexible employment. 

According to Intuit, the company which owns TurboTax, gig workers comprise roughly 34 percent of the United States workforce. Additionally, the company predicts that, by 2020, gig workers will make up 43 percent of the economy. Referencing the growing number of freelance workers within the transportation industry, the company's CEO, Brad Smith, believes self-employed work has increased opportunity in other industries as well. 

Data from a joint study between Intuit and Emergent Research shows that, led by online enterprises, there are nearly four million conventional gig workers in the country. That number is expected to rise to 7.7 million by 2020, although it is difficult to determine how many workers use gig employment as a full-time job as opposed to a part-time way to generate supplemental income. Official numbers are expected to be released by the US Labor Department in 2018.

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