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The gig economy is boom, and it ’ s not predicted to slow down any time soon. rather of spend every day working a 9-to-5 problem, it ’ second increasingly common to have multiple income sources from freelancing gigs. This workplace chemise allows freelancers to have job flexibility, where they can work when they want and where they want, rather of following a hard-and-fast agenda. not to mention, freelancer work offers creative exemption, the ability to choose your clients, and allows you to be your own party boss.
so what does the future of the freelance community look like, and what jobs can you choose that will pay you well ? We ’ ve compiled a comprehensive number of freelancer statistics to help you better understand what it takes to thrive in a gig economy. Feel free to jump to the infographic for some quick stats .
Note: The data listed under is from the Intuit QuickBooks and Gallup 2019 Gig Economy and Self-Employment Report, unless differently noted .
The Current State of Self-Employment in the U.S.
Self-employment continues to be an important source of income for many citizens of the United States. here are some statistics about the stream submit of self-employment in the U.S. to give you an estimate of where the trends are heading .
1. There are presently 44 million freelance individuals in the United States .
2. growth in sole proprietors has been the fastest in transportation services, such as taxi services, with a increase rate of 722 % from 2000 to 2017 .
3. freelance individuals earn the highest annual income in Northeastern states like New Jersey, Massachusetts, and Rhode Island .
4. 54 % of people who are freelance besides work in traditional jobs .
5. In 2017, 17 % of adults in the United States engaged in freelance exploit, which is an addition from the less than 10 % average in the early 1980s .
6. 28 % of freelance workers in the U.S. reported to have worked multiple jobs at some indicate in a given week to make excess income .
7. A considerable amount of people who are freelance do therefore out of a desire — not a necessity — to supplement their primary source of income.
8. The number of people who considered freelance as a long-run career option increased from 18.5 million to 28.5 million between 2014 and 2019. ( Fast Company )
9. freelance workers are less satisfy with their job stability and predictability compared to traditional employees .
10. The tax rate for freelance workers in the U.S. is at 15.3 %.
( IRS )
11. 57 % of sole proprietors work in these five sectors : professional services, haunt and personal services, construction, retail trade, and administrative services .
12. 23 % of those who use digital gig platforms to find work opportunities are students. ( Pew Research Center )
13. The average freelance individual bring in an average of $ 34,751 in annual gross in 2017, compared to traditional employees who brought in around $ 40,800 .
14. More than 50 % of the work force in the United States is predicted to be freelancers by the end of 2027. ( Upwork )
15. Almost one-tenth of Americans have earned money in the last year using a digital platform to perform gig jobs. ( Pew Research Center )
16. The U.S. freelance work force has been growing 3 times faster than the overall U.S. work force since 2014. ( Upwor k )
17. Around 2 % of Americans have made money driving for rideshare services like Uber and Lyft. ( Pew Research Center )
18. Americans younger than the old age of 50 and those with higher levels of income and education are more likely to be on-line sellers. ( Pew Research Center )
19. 53 % of America ’ s freelancer workers are male. ( Statista )
Gig Economy Statistics and Trends To Know
Freelancers chiefly earn their money by working for multiple companies performing gigs or jobs, alternatively of committing to work for one company. This allows freelancers to attract multiple clients at once and solve from a assortment of places. What does the data on freelancing expect like ? hera are the freelance statistics you need to know .
20. 50 % of freelancers provide highly skilled services such as computer program, IT, and business consult. ( Upwork )
21. 80 % of major corporations plan on greatly increasing their function of flexible workers in the coming years .
22. In Deloitte ’ s annual Global Human Capital Trends report card, more than 33 % of companies surveyed reported using spear workers extensively .
23. For gig workers between the ages of 18 and 34, half of them rely on their gig job as their main source of income. ( Edison Research )
24. 1 in 6 traditional employees want to become a primary coil mugwump earner. ( McKinsey )
25. In Deloitte ’ s latest millennial survey, more than 64 % of full-time workers surveyed said they want to do side hustles to make excess income .
26. 46 % of U.S. freelancers say that their stream working style gives them the tractability they ’ re looking for. ( Upwork )
27. autonomous workers systematically report that they are much healthier and satisfied with working for themselves. ( MBO Partners )
28. There are around 170 spear economy workers in the U.S. that chiefly hire outside employees. ( CNBC )
29. approximately 9 % of U.S. freelancers use on-demand economy platforms such as Freelancer or Upwork to find exploit opportunities. ( Staffing Industry )
30. Freelancers who rely chiefly on the income they earn from gigs are besides more likely to opt for jobs that involve forcible department of labor rather than remote on-line tasks. ( Pew Research Center )
31. The average age of freelancers is 40 years old, which is younger than traditional workers at an average historic period of 42. ( Forbes )
32. 26 % of gig platform users consider themselves employees of the services they use to find work opportunities, while 68 % see themselves as independent contractors. ( Pew Research Center )
33. 46 % of freelancers said they can ’ t have a traditional 9-to-5 job because of personal circumstances. ( Upwork )
A Snapshot of the Freelance Job Market
34. Among the total group of freelancers, 30 % sell incompetent services, 26 % sell goods, and 26 % provide other services. ( Forbes )
35. There are more than 1.1 billion freelancers around the worldly concern out of the 3.2 billion entire work force population. ( International Labor Organization )
36. 80 % of freelancers work on up to three projects simultaneously. ( Inc. )
37. 83 % of full-time freelancers have health indemnity. ( Forbes )
38. Freelancers spent more than 1 billion total hours a week working in 2018, up from 998 million hours in 2015. ( Forbes )
39. The U.S. has the fastest growing freelancer market in the populace, with a 78 % growth in annual earnings. ( Payoneer )
40. 30 % of Fortune 500 companies hire through diverse freelancing platforms like Upwork. ( Fortune )
41. 7 out of 10 freelancers say technology has made it easier to find gigs. ( Upwork )
42. Around 60 % of freelancers have received business-related trail in the past six months to sharpen skills relevant to their field. ( Forbes )
43. 98 % of outback workers would like to work remotely for the stay of their careers. ( Buffer )
44. The best countries for freelancing are the U.S., the U.K., Brazil, Pakistan, Ukraine, the Philippines, India, Bangladesh, Russia, and Serbia. ( CNBC )
45. About half of freelance workers work 30 to 50 hours per week. ( Inc. )
46. full-time freelancers say the best things about self-employment are flexibility ( 77 % ), not having a foreman ( 77 % ), and working wherever they like. ( Forbes )
47. The U.S. gig economy gross book is expected to reach $ 455 billion by 2023. ( Statista )
48. According to the Bureau of Labor Statistics, merely 17 % of U.S. freelancers are african American, 16.4 % are Hispanic, and 5.8 % are asian .
49. Around 52 % of freelancers worldwide have lost their job due to the coronavirus pandemic. ( Statista )
50. The number of spear economy workers over the old age of 65 climbed from 8.5 % to 14.1 % between 2005 and 2017. ( economic Policy Institute )
51. 92 % of freelancers expect their work opportunities to continue to increase in the coming years. ( Upwork )
Freelance Statistics Regarding Income and Expenses
52. U.S. freelancers earned closely $ 1 trillion in 2018, which is equivalent to 5 % of the entire U.S. GDP. ( Upwork )
53. About 36 % of freelancers now make more than $ 75,000 every year. ( LinkedIn )
54. Freelancers around the populace earn an average of $ 19 per hour. ( Forbes )
55. The medial annual wage of freelancers with at least 3 years of experience is around $ 70,000. ( Nation 1099 )
56. 53 % of freelancers claim that cost is the independent barrier to leveling up their professional skills. ( Skill Scouter )
57. 60 % of freelancers say they earn more than they did working as traditional employees. ( Upwork )
58. Among U.S. freelancers, 50 % say no sum of money would make them want to work a traditional caper again. ( Forbes )
59. 6 in 10 freelancers would move to a different city for a tax break of less than $ 5,000. ( Upwork )
60. only 17 % of independent workers using on-demand platforms for job opportunities made an income of $ 75,000 or more, with 56 % earning $ 40,000 or less, and 36 % of workers reporting earnings of $ 25,000 or less ( MBO Partners ) .
Is Freelancing the Future?
Freelancing is a compromising opportunity that allows you to work from anywhere in the earth, which makes it an attractive subcontract prospect for many people. many employees transitioned into distant function opportunities during COVID-19 ; since then, more than 65 % have reported a desire to be full-time remote control workers post-pandemic .
however, not all industries are allowing this permanent wave outside speculate change, which has pushed many working people to turn toward freelance work. This, coupled with the number of workers who lost their jobs during the pandemic, created an inflow of freelance workers. In fact, at the pace the gig economy continues to grow each year, more than 50 % of the work force is predicted to be in a mercenary place by 2028 .
How Much Do Freelancers Make?
It ’ sulfur acquit that freelancing has become a popular choice for those who want to control their work and career experiences. however, with that exemption comes the reality of earning a be as a freelancer, which can be unpredictable. The average wage for freelancers in the U.S. is $ 63,448, according to the most late freelancer statistics by ZipRecruiter .
It ’ randomness authoritative to note that this is importantly higher than the average for most other countries, and not everyone will make this type of money freelance. The actual take-home numbers may differ depending on the bill method, industry, and amount of experience the mercenary has .
Top 5 Highest Paying Freelance Jobs of 2021
Most industries hire freelancers, so you ’ ll have batch of jobs to choose from if you decide to pursue independent work. however, there are a few freelance gigs that tend to make more than others. We ’ ve put together the peak five freelance gigs, subcontract duties, and how much you can potentially make. Continue reading to learn the most profitable mercenary problem randomness in 2021 .
Social Media Specialist
Freelancers are needed more than always in the social marketing global. social media specialists handle a variety of tasks such as content planning, message write, and social media management. You ’ ll have to be well-versed in cutting border social media techniques and be able to write compelling captions or contentedness that will attract an audience. The average wage for this function is $ 45,631 .
SEO Specialist
An SEO ( Search Engine Optimization ) specialist works to optimize their node ’ mho content and help them reach the top search results on YouTube, Google, or any other searchable platform. This is a very profitable recess because businesses need these ranking spots for a larger retort on concern. The average wage for this function is $ 59,871 .
Web Designer
A freelance web architect works with clients to plan, create, and code web pages. This undertaking requires a cognition of network design, gull, and exploiter experience in rate to thrive. It ’ south important to have an eye for purpose, understand basic SEO principles, and have the know-how to create on assorted platforms. The median annual wage for this function is $ 77, 200 .
Copywriter
A copywriter is a great option if you want to earn a senior high school income. As a copywriter, you ’ ll write on versatile topics in multiple industries, depending on your customer ’ south needs. This may include blog contented, web site pages, social media posts, sales scripts, email marketing campaigns, and so on. The best part of copywriting is that anyone can start in this diligence and work their way up. The median annual wage for this role is $ 67, 120 .
Sales Specialist
Everyone needs to sell their products or services, making sales one of the most sought skills each class. Thankfully, you can do presentations, call calls, and send emails to clients from anywhere in the world. You ’ ll need to be comfortable and confident with cold calling and rejection to thrive in this function. The base annual wage for this character is $ 45,750 .
How To Stand Out and Make Money in the Freelance Market
With the numeral of freelancers growing as more people continue to leave their regular 9-to-5 jobs, the competition continues to increase. You ’ ll have to make yourself stand out among your rival in club to attract more customers by investing in your occupation. If you ’ re ready to make more money as a mercenary, follow these tips to establish yourself and thrive in the gig economy .
Pick a Profitable Niche
While it ’ sulfur important to pick an area of employment that you enjoy and excel in, it ’ south even more important to choose a profitable recess. Take some time to research what other people in your choose plain are charging for their work. Does this match up with the wage you ’ re looking to earn ? If it doesn ’ metric ton, you might want to consider a different money-making avenue .
Create a High-Quality Portfolio
When customers are seeking services like yours, they ’ re going to check out the previous work you ’ ve done. If you don ’ t have any examples of the choice, note, or style of your cultivate, you ’ re not likely to book clients. potential customers want to know that they can trust you with their project, and without any portfolio, they ’ re more probable to move on to the adjacent mercenary. Make surely to include examples of the best work you ’ ve completed. If you don ’ t have any samples, create your own .
Define Your Audience and Perfect Your Pitch
It ’ second essential to understand your prey marketplace. What trouble are you trying to solve with your expertness ? You ’ ll want to know the demographics and character of your ideal client so you can better understand how to attract their clientele. Your flip to them should center around solving their problems and making their lives easier, not bragging about your achievements or accomplishments .
Build Credibility
Social proofread is more authoritative than ever, which is why more than 84 % of people trust on-line reviews. At the beginning of your freelancer career, it ’ south essential to build up your credibility with commodity reviews. Make indisputable to go above and beyond with your customers to receive a higher rat. When you do receive glowing reviews, make surely to post them everywhere for potential clients to see .
Leverage Your Network
As a novice in your industry, it might be hard to get those first few orders or gigs. The best way to overcome this is to reach out to your network, either in person or via social media. Ask friends, kin members, or commercial enterprise connections if they need your services. You ’ ll more than likely find a few of your first customers by using the connections you already have in your net .
More people than ever are now turning to the spear economy as a full-time speculate or a profitable side bustle. There is no quick way to gain an edge on your competitors or stand out. however, by finding the right field recess, managing your business expenses, and positioning yourself correctly with your target market, you ’ re probable to make more money and boom in the gig economy .
As you continue to uplevel your skills as a mercenary, don ’ metric ton forget to take control of your finances. Though being your own boss comes with more freedom compared to traditional employees, living on a fluctuate income as a freelance can cause stress. To reduce your fiscal worries, use budget tracking apps like Mint and manage your spendings in an organize way .
Read more: How to Make Friendship Bracelets
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