The way we work may change forever as a result of the Covid-19 pandemic. During this time period, we can reveal that over a third of the American workforce are currently freelancing, and they make up a stunning $1.2 trillion economy. The trend for freelance work had been increasing before the pandemic due to younger professionals seeking out more flexible opportunities. According to a recent nationwide survey, 59 million Americans performed some form of freelance work in the past 12 months, which is 36% of the workforce.
One notable reason for why people are freelancing more is because of the earning potential. 75% of those that quit their full time jobs, stated that they were earning the same or a higher pay than they had in their previous role. 58% of professionals are now considering freelance work in the future as a result of the pandemic. In particular, graduates are turning to remote work due to a lack of opportunities. Half of those aged 18-22 have freelanced within the past year. Training has also become a significant aspect of freelancing with 59% saying that they had undergone skills training within the past 6 months.
The on-going pandemic has shone a light on the numerous opportunities that exist for remote working. Freelance jobs are in demand in a variety of industries including finance, mathematics, business, software, graphic design, and much more. Americans are embracing working on their own terms, and opting for freelance work. 71% of freelancers have also said that the perception of freelancing is becoming more positive. It seems as though the old stigma is wearing off. Traditional office jobs may not be on the way out just yet, but alternative working shows no signs of slowing down. Freelancing will have a huge role to play in the post-Covid 19 economy.