Markets and Economy

Has Growth Peaked in the Online Platform Economy?

The JPMorgan Chase Institute recently issued a new report showing that while participation in the online platform economy—where people are paid for online gigs like driving services, selling goods or renting their homes—continues to grow, it has slowed significantly since its peak in 2014.
JPMORGAN CHASE INSTITUTE
November 15, 2016

Innovative digital platforms like Uber and Airbnb have created an entirely new labor market, as well as a new revenue stream for people across the country. However, this new marketplace—in what has been dubbed the "online platform economy"—has proved difficult to measure and has sparked a conversation around how participants in this economy have been affected by it. 

In an update to its last report on this topic, the JPMorgan Chase Institute released new findings that provide a unique look at the growth in participation in and earnings from the online platform economy in 15 major US cities: Atlanta, Chicago, Columbus, Dallas, Denver, Detroit, Houston, Los Angeles, Miami, New York, Phoenix, San Diego, San Francisco, San Jose and Seattle. Among other findings, this report reveals that:

Find out more in the full report.

Read the report

 

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