3 Stocks for the Next-Gen Workforce
America is quickly becoming the land of the on-demand workforce. Estimates vary, but a 2017 Bureau of Labor Statistics report found 55 million people in the United States were a part of the "gig economy." This was notably larger than other studies, as it included all workers using non-traditional work arrangements for their primary source of income or additional income from a "side hustle."
A recent ADP study used a narrower interpretation, but found that independent workers at businesses jumped 15% from 2010 to 2020. Despite the definition differences, studies confirm the on-demand economy is booming. However, it's wrong to believe this is all due to COVID-19; while the pandemic increased adoption, the trend preceded 2020 and will continue once America returns to normal.
The best way to take advantage of this trend is to invest in companies like Uber Technologies (NYSE: UBER) that operate on this model, or in companies that are enabling individuals to make money from non-traditional work output, like Etsy (NASDAQ: ETSY) and Upwork (NASDAQ: UPWK).
Source Fool.com
