An Overview of 1.2 trillion freelance US Economy

By September 2020, the freelance economy represented 36% of the US workforce, while there has been an increase in this field by 2 million freelancers. Moreover, 75% of freelancers who were surveyed in summer 2020 say that their earnings are the same as that of regular workers. 58% of non-freelancers but only online workers consider becoming freelancers in the future. 36% of generation z, people who are 18-22 y.o. , started to freelance after the Covid-19. Also, 59% (opposed to 36% of non-freelancers) participated in communication skill training. Another exciting fact about freelance development is that there is an increase in mobile app development and e-commerce growth. As can be seen, freelance is in demand at the times of uncertainty, which is not surprising as this job allows people to remain flexible and more independent from their employers. However, even before Covid-19, 26% of freelancers were full-time online employees,  and 46% worked online more than a half of the time. Moreover, 67% of freelanes state that being an online worker better prepared them for uncertainty. Also, increased demand in freelancing has  changed an approach to work evaluation. As for now, employees are evaluated based on the quantity and quality of tasks that have been done and not based on how much hours they have worked. This allows employers to evaluate their workers in a more advanced and efficient way, which also pushes employees to achieve higher results. So far, freelancing contributed $ 1.2 trillion to the US economy as the Upwork strud has revealed (Ioannou, 2020). 

Source: https://www.cnbc.com/2020/09/15/a-snapshot-of-the-1point2-trillion-freelance-economy-in-the-us-in-2020.html

 

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