4/16/2023 0 Comments The last worker![]() ![]() Independent workers’ optimism is even more remarkable considering the hardships they encounter. More than 40 percent of independent workers say that they think it’s more likely in five years that there will be continuous economic growth, compared with about a third of all respondents. More than a third of them say that in 12 months they expect to have more economic opportunities, compared with a fifth of workers overall who say the same. ![]() In our spring survey of 25,062 Americans, theĥ,280 respondents (see sidebar, “Our methodology”) who identify themselves as independent workers reveal a distinctive characteristic: they are far more optimistic, both about their own futures and the outlook for the economy, than the average American worker. People with lower incomes, people with less education, people living in rural areas, or people aged 65 and older are underrepresented among internet users and those with high-speed internet access. Given the limitations of online surveys, it is possible that biases were introduced because of undercoverage or nonresponse. To better reflect the population of the United States as a whole, post hoc weights were made to the population characteristics on gender, age, race/ethnicity, education, region, and metropolitan status. A sample of 25,062 adults aged 18 and older from the continental United States, Alaska, and Hawaii was interviewed online in English and Spanish. This article is based on a 25-minute, online-only Ipsos poll conducted on behalf of McKinsey between March 15 and April 18, 2022. In some cases, respondents hold full-time jobs but also engage in a “side hustle.” For the purposes of this article, permanent work refers to jobs within the traditional employer–employee framework, whether part-time or full-time, in which the employer determines the work patterns of a salaried employee. Of the 5,280 independent-worker respondents, 76 percent identified as contract, freelance, or temporary workers, and 68 percent identified as gig workers, with an overlap of 44 percent identifying as both. 1 We defined an independent worker as any respondent who answered “yes” to either of the following questions: “Is your current job as a contract, freelance, or temporary worker?” or “Would you consider yourself a gig worker or part of the gig economy?” For the purposes of this survey, a gig worker is someone who pursues independent work that is provided via a tech platform (such as Airbnb, TaskRabbit, or Uber). In our survey, we counted anyone who identified as a contract, freelance, temporary, or gig worker as an independent worker. Independent workers perform many types of jobs, including working a short-term placement through a temporary agency, tutoring, driving passengers, delivering food or other products, short-term renting a personal property, creative jobs such as acting or writing, and substitute teaching. U.S.This article is a collaborative effort by André Dua, Kweilin Ellingrud, Bryan Hancock, Ryan Luby, Anu Madgavkar, and Sarah Pemberton as part of ongoing McKinsey research to understand the perceptions of and barriers to economic opportunity in America. For instance, demographic changes such as the aging of population can lead to a secular increase of exits from the labor force, shrinking the labor force and decreasing the labor force participation rate. Note that long-run changes in labor force participation may reflect secular economic trends that are unrelated to the overall health of the economy. The labor force participation rate helps government agencies, financial markets, and researchers gauge the overall health of the economy. It is provided on a monthly basis, so this data is used in part by macroeconomists as an initial economic indicator of current labor market trends. The Labor Force Participation Rate is collected in the CPS and published by the BLS. The Labor Force Participation Rate is defined by the Current Population Survey (CPS) as “the number of people in the labor force as a percentage of the civilian noninstitutional population the participation rate is the percentage of the population that is either working or actively looking for work.” The series comes from the 'Current Population Survey (Household Survey)' ![]()
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