Source: National Council on Compensation Insurance (NCCI) or prnewswire.com
BOCA RATON, Fla., July 11, 2019 /PRNewswire/ — The National Council on Compensation Insurance (NCCI) released its Quarterly Economics Briefing for the second quarter of 2019. The report examines work arrangements that go beyond traditional wage and salary employment, paying particular attention to the kind of short-term work arrangements that comprise the so-called “gig economy.”
“NCCI’s Quarterly Economics Briefing investigates important topics in the US economy, helping stakeholders understand the related impact on the workers compensation system,” said Bill Donnell, president and CEO of NCCI. “This quarter, we looked at the trends in nontraditional jobs and how they are changing the landscape of employment.”
“We found the numbers of those engaging in these nontraditional jobs as their primary job is not increasing, but many people do nontraditional work as a secondary source of income,” said Patrick Coate, co-author of the paper and an NCCI economist. “We also took a special look at electronically mediated work, which is small but growing, and receiving a lot of legislative and regulatory attention.”
Here are some key takeaways:
The proportion of self-employment and nontraditional work arrangements have not increased in the last 15 years with respect to primary employment
There are about 15 million people in the United States in alternative work arrangements as their primary job, but as many as 30% of US adults do some informal work
The number of Americans doing electronically mediated work has tripled in the past five years, but income from this work still accounts for less than 1% of total income
Read the full report here.
Founded in 1923, the mission of the National Council on Compensation Insurance (NCCI) is to foster a healthy workers compensation system. In support of this mission, NCCI gathers data, analyzes industry trends, and provides objective insurance rate and loss cost recommendations. These activities—combined with a comprehensive set of tools and services—make NCCI the source you trust for workers compensation information.
NCCI Media Contact
Dean W. Dimke, Public Relations and Communications Director
SOURCE National Council on Compensation Insurance (NCCI)