Tech Supports the Growth of the Freelance Economy

Tech Supports the Growth of the Freelance Economy

Tech Supports the Growth of the Freelance EconomyTech Supports the Growth of the Freelance Economy

This year, 55 million American adults took part in the freelance economy, and many of them believe that technology makes it easier for them to find work.

Freelance Economy GrowsFreelance Economy Grows

The freelance economy grew to 55 million Americans this year, representing 35% of the total workforce, and an additional 2 million freelancers since 2014.

Tech Enables FreelancersTech Enables Freelancers

73% of the survey respondents said technology has made it easier to find freelance work, up from 69% in 2014. 66% said the amount of work they get online has increased since 2015.

Freelancers' ContributionsFreelancers’ Contributions

Freelancers contributed $1 trillion in earnings to the U.S. economy this year.

Freelancing as a ChoiceFreelancing as a Choice

63% of respondents started freelancing as a choice, up 10 percentage points since 2014. 79% prefer freelancing because they feel respected, engaged, empowered and excited to start each day.

Enjoying FlexibilityEnjoying Flexibility

The most frequently cited reason for choosing to freelance is the flexibility and freedom it affords. Part-time freelancers are more motivated by earning additional income.

Working Fewer HoursWorking Fewer Hours

Full-time freelancers work an average of 36 hours a week. Most feel they work the right amount of time.

Focus on EmpowermentFocus on Empowerment

70% of the respondents said a discussion of how to empower the independent workforce is needed, up from 7 percentage points since last year.

Freelancers' Top ConcernsFreelancers’ Top Concerns

Being paid a fair rate, Unpredictable income, Debt

Freelancing Is More StableFreelancing Is More Stable

63% of freelancers said that having a diversified portfolio of clients is more stable than having one employer.

Earnings Are BetterEarnings Are Better

The majority of freelancers who had left a full-time job made more within a year of their departure. Half of them said that no amount of money would entice them to take a full-time job.

Charging MoreCharging More

46% of full-time freelancers raised their rates in the past year, and 54% plan to raise them next year.

Karen A. Frenkel
Karen A. Frenkel
Karen A. Frenkel is a contributor to CIO Insight. She covers cybersecurity topics such as digital transformation, vulnerabilities, phishing, malware, and information governance.

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