The gig economic system is booming, and it’s not predicted to decelerate any time quickly. As a substitute of spending every single day working a 9-to-5 job, it’s more and more widespread to have a number of income sources from freelancing gigs. This work shift permits freelancers to have job flexibility, the place they will work when they need and the place they need, as a substitute of following a strict schedule. To not point out, freelance work provides inventive freedom, the flexibility to decide on your shoppers, and lets you be your individual boss.

So what does the way forward for the freelance neighborhood appear like, and what jobs are you able to select that can pay you nicely? We’ve compiled a complete listing of freelance statistics that can assist you higher perceive what it takes to thrive in a gig economic system. Be at liberty to jump to the infographic for some fast stats.

Word: The info listed beneath is from the Intuit QuickBooks and Gallup 2019 Gig Economy and Self-Employment Report, until in any other case famous.

The Present State of Self-Employment within the U.S.

Self-employment continues to be an vital supply of revenue for a lot of residents of the USA. Listed below are some statistics concerning the present state of self-employment within the U.S. to present you an thought of the place the developments are heading.

 

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1. There are at present 44 million self-employed people in the USA.

2. Development in sole proprietors has been the quickest in transportation companies, corresponding to taxi companies, with a progress charge of 722% from 2000 to 2017.

three. Self-employed people earn the very best annual revenue in Northeastern states like New Jersey, Massachusetts, and Rhode Island.

four. 54% of people who find themselves self-employed additionally work in conventional jobs.

5. In 2017, 17% of adults in the USA engaged in self-employed work, which is a rise from the lower than 10% common within the early 1980s.

6. 28% of self-employed staff within the U.S. reported to have labored a number of jobs sooner or later in a given week to make further revenue.

7. A substantial quantity of people who find themselves self-employed achieve this out of a need — not a necessity — to complement their main supply of revenue.
eight. The quantity of people that thought of freelancing as a long-term profession choice elevated from 18.5 million to 28.5 million between 2014 and 2019. (Fast Company)

9. Self-employed staff are much less glad with their job stability and predictability in comparison with conventional workers.

10. The tax charge for self-employed staff within the U.S. is at 15.three%.
(IRS)

 

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11. 57% of sole proprietors work in these 5 sectors: skilled companies, restore and private companies, development, retail commerce, and administrative companies.

12. 23% of those that use digital gig platforms to search out work alternatives are college students. (Pew Research Center)

13. The common self-employed particular person introduced in a mean of $34,751 in annual income in 2017, in comparison with conventional workers who introduced in round $40,800.

14. Greater than 50% of the workforce in the USA is predicted to be freelancers by the tip of 2027. (Upwork)

15. Nearly one-tenth of Individuals have earned cash within the final yr utilizing a digital platform to carry out gig jobs. (Pew Research Center)

16. The U.S. freelance workforce has been rising three instances sooner than the general U.S. workforce since 2014. (Upworok)

17. Round 2% of Individuals have made cash driving for rideshare companies like Uber and Lyft. (Pew Research Center)

18. Individuals youthful than the age of 50 and people with larger ranges of revenue and schooling usually tend to be on-line sellers. (Pew Research Center)

19. 53% of America’s impartial staff are male. (Statista)

Gig Financial system Statistics and Tendencies To Know

Freelancers primarily earn their cash by working for a number of corporations performing gigs or jobs, as a substitute of committing to work for one firm. This enables freelancers to draw a number of shoppers directly and work from a wide range of locations. What does the info on freelancing appear like? Listed below are the freelance statistics it’s worthwhile to know.

 

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20. 50% of freelancers present extremely expert companies corresponding to laptop programming, IT, and enterprise consulting. (Upwork)

21. 80%of main firms plan on drastically growing their use of versatile staff within the coming years.

22. In Deloitte’s annual Global Human Capital Trends report, greater than 33% of corporations surveyed reported utilizing gig staff extensively.

23. For gig staff between the ages of 18 and 34, half of them depend on their gig job as their essential supply of revenue. (Edison Research)

24. 1 in 6 conventional workers need to develop into a main impartial earner. (McKinsey)

25. In Deloitte’s newest millennial study, greater than 64% of full-time staff surveyed stated they need to do facet hustles to make further revenue.

26. 46% of U.S. freelancers say that their present working type offers them the flexibleness they’re in search of. (Upwork)

27. Unbiased staff constantly report that they’re much more healthy and glad with working for themselves. (MBO Partners)

28. There are round 170 gig economic system staff within the U.S. that primarily rent distant workers. (CNBC)

29. Roughly 9% of U.S. freelancers use on-demand economic system platforms corresponding to Freelancer or Upwork to search out work alternatives. (Staffing Industry)

30. Freelancers who rely primarily on the revenue they earn from gigs are additionally extra prone to go for jobs that contain bodily labor moderately than distant on-line duties. (Pew Research Center)

31. The common age of freelancers is 40 years previous, which is youthful than conventional staff at a mean age of 42. (Forbes)

32. 26% of gig platform customers think about themselves workers of the companies they use to search out work alternatives, whereas 68% view themselves as impartial contractors. (Pew Research Center)

33. 46% of freelancers stated they will’t have a conventional 9-to-5 job due to private circumstances. (Upwork)

A Snapshot of the Freelance Job Market

34. Among the many whole group of freelancers, 30% promote unskilled companies, 26% promote items, and 26% present different companies. (Forbes)

35. There are greater than 1.1 billion freelancers around the globe out of the three.2 billion whole workforce inhabitants. (International Labor Organization)

36. 80% of freelancers work on as much as three tasks concurrently. (Inc.)

37. 83% of full-time freelancers have medical health insurance. (Forbes)

38. Freelancers spent greater than 1 billion whole hours every week working in 2018, up from 998 million hours in 2015. (Forbes)

39. The U.S. has the quickest rising freelance market on this planet, with a 78% progress in yearly earnings. (Payoneer)

40. 30% of Fortune 500 corporations rent by means of varied freelancing platforms like Upwork. (Fortune)

41. 7 out of 10 freelancers say know-how has made it simpler to search out gigs. (Upwork)

42. Round 60% of freelancers have obtained business-related coaching previously six months to sharpen abilities related to their area. (Forbes)

 

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43. 98% of distant staff want to work remotely for the remainder of their careers. (Buffer)

44. One of the best international locations for freelancing are the U.S., the U.Ok., Brazil, Pakistan, Ukraine, the Philippines, India, Bangladesh, Russia, and Serbia. (CNBC)

45. About half of freelance staff work 30 to 50 hours per week. (Inc.)

46. Full-time freelancers say one of the best issues about self-employment are flexibility (77%), not having a boss (77%), and dealing wherever they like. (Forbes)

47. The U.S. gig economic system gross quantity is anticipated to achieve $455 billion by 2023. (Statista)

48. In accordance with the Bureau of Labor Statistics, solely 17% of U.S. freelancers are African American, 16.four% are Hispanic, and 5.eight% are Asian.

49. Round 52% of freelancers worldwide have misplaced their job as a result of coronavirus pandemic. (Statista)

50. The variety of gig economic system staff over the age of 65 climbed from eight.5% to 14.1% between 2005 and 2017. (Economic Policy Institute)

51. 92% of freelancers anticipate their work alternatives to proceed to extend within the coming years. (Upwork)

Freelance Statistics Relating to Earnings and Bills

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52. U.S. freelancers earned practically $1 trillion in 2018, which is equal to five% of the whole U.S. GDP. (Upwork)

53. About 36% of freelancers now make greater than $75,000 yearly. (LinkedIn)

54. Freelancers around the globe earn a mean of $19 per hour. (Forbes)

55. The median annual wage of freelancers with a minimum of three years of expertise is round $70,000. (Nation 1099)

56. 53% of freelancers declare that value is the principle barrier to leveling up their skilled abilities. (Skill Scouter)

57. 60% of freelancers say they earn greater than they did working as conventional workers. (Upwork)

58. Amongst U.S. freelancers, 50% say no sum of money would make them need to work a conventional job once more. (Forbes)

59. 6 in 10 freelancers would transfer to a unique metropolis for a tax break of lower than $5,000. (Upwork)

60. Solely 17% of impartial staff utilizing on-demand platforms for job alternatives made an revenue of $75,000 or extra, with 56% incomes $40,000 or much less, and 36% of staff reporting earnings of $25,000 or much less (MBO Partners).

Is Freelancing the Future?

Freelancing is a versatile alternative that lets you work from anyplace on this planet, which makes it a sexy job prospect for many individuals. Many workers transitioned into distant work alternatives throughout COVID-19;since then, more than 65% have reported a need to be full-time distant staff post-pandemic.

Nevertheless, not all industries are permitting this everlasting distant job change, which has pushed many working folks to show towards freelance work. This, coupled with the variety of staff who misplaced their jobs throughout the pandemic, created an inflow of freelance staff. In truth, on the charge the gig economic system continues to develop every year, more than 50% of the workforce is predicted to be in a contract place by 2028.

How A lot Do Freelancers Make?

It’s clear that freelancing has develop into a well-liked choice for individuals who need to management their work and profession experiences. Nevertheless, with that freedom comes the fact of incomes a dwelling as a freelancer, which might be unpredictable. The common wage for freelancers within the U.S. is $63,448, in keeping with the latest freelancer statistics by ZipRecruiter.

It’s vital to notice that that is considerably larger than the common for many different international locations, and never everybody will make one of these cash freelancing. The precise take-home numbers could differ relying on the billing technique, trade, and quantity of expertise the freelancer has.

Prime 5 Highest Paying Freelance Jobs of 2021

Most industries rent freelancers, so that you’ll have loads of jobs to select from should you resolve to pursue impartial work. Nevertheless, there are a number of freelancing gigs that are likely to make greater than others. We’ve put collectively the highest 5 freelance gigs, job duties, and the way a lot you may doubtlessly make. Proceed studying to be taught the most profitable freelance jobs in 2021.

Social Media Specialist

Freelancers are wanted greater than ever within the social advertising and marketing world. Social media specialists deal with a wide range of duties corresponding to content material planning, content material writing, and social media administration. You’ll must be well-versed in leading edge social media strategies and have the ability to write compelling captions or content material that can appeal to an viewers. The average salary for this function is $45,631.

website positioning Specialist

An website positioning (Search Engine Optimization) specialist works to optimize their consumer’s content material and assist them attain the highest search outcomes on YouTube, Google, or another searchable platform. It is a very worthwhile area of interest as a result of companies want these higher-ranking spots for a bigger return on curiosity. The average salary for this function is $59,871.

Internet Designer

A contract net designer works with shoppers to plan, create, and code net pages. This activity requires a data of net design, coding, and consumer expertise so as to thrive. It’s vital to have an eye fixed for design, perceive primary website positioning rules, and have the know-how to create on varied platforms. The median annual salary for this function is $77, 200.

Copywriter

A copywriter is a superb choice if you wish to earn a excessive revenue. As a copywriter, you’ll write on varied matters in a number of industries, relying in your consumer’s wants. This may increasingly embody weblog content material, web site pages, social media posts, gross sales scripts, e-mail advertising and marketing campaigns, and so forth. One of the best a part of copywriting is that anybody can begin on this trade and work their approach up. The median annual salary for this function is $67, 120.

Gross sales Specialist

Everybody must promote their services or products, making gross sales one of the crucial sought-after abilities every year. Fortunately, you are able to do displays, telephone calls, and ship emails to shoppers from anyplace on this planet. You’ll have to be comfy and assured with chilly calling and rejection to thrive on this function. The imply annual salary for this function is $45,750.

How To Stand Out and Make Cash within the Freelance Market

With the variety of freelancers rising as extra folks proceed to go away their common 9-to-5 jobs, the competitors continues to extend. You’ll must make your self stand out amongst your competitors so as to appeal to extra clients by investing in your corporation. For those who’re prepared to earn more money as a freelancer, observe these tricks to set up your self and thrive within the gig economic system.

Choose a Worthwhile Area of interest

Whereas it’s vital to select an space of labor that you simply get pleasure from and excel in, it’s much more vital to decide on a worthwhile area of interest. Take a while to analysis what different folks in your chosen area are charging for his or her work. Does this match up with the wage you’re seeking to earn? If it doesn’t, you may need to think about a unique money-making avenue.

 

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Create a Excessive-High quality Portfolio

When clients are looking for companies like yours, they’re going to take a look at the earlier work you’ve executed. For those who don’t have any examples of the standard, tone, or type of your work, you’re not prone to e-book shoppers. Potential clients need to know that they will belief you with their mission, and with none portfolio, they’re extra prone to transfer on to the subsequent freelancer. Make certain to incorporate examples of one of the best work you’ve accomplished. For those who don’t have any samples, create your individual.

Outline Your Viewers and Excellent Your Pitch

It’s important to grasp your goal market. What downside are you making an attempt to resolve along with your experience? You’ll need to know the demographics and persona of your ideally suited consumer so you may higher perceive the best way to appeal to their enterprise. Your pitch to them ought to focus on fixing their issues and making their lives simpler, not bragging about your achievements or accomplishments.

Construct Credibility

Social proof is extra vital than ever, which is why greater than 84% of people belief on-line opinions. In the beginning of your freelance profession, it’s important to construct up your credibility with good opinions. Make certain to go above and past along with your clients to obtain a better score. Whenever you do obtain glowing opinions, make certain to put up them in every single place for potential shoppers to see.

Leverage Your Community

As a newbie in your trade, it may be laborious to get these first few orders or gigs. One of the simplest ways to beat that is to achieve out to your community, both in particular person or by way of social media. Ask mates, members of the family, or enterprise connections in the event that they want your companies. You’ll greater than probably discover a number of of your first clients by utilizing the connections you have already got in your community.

Extra folks than ever are actually turning to the gig economic system as a full-time job or a worthwhile facet hustle. There is no such thing as a fast method to achieve an edge in your rivals or stand out. Nevertheless, by discovering the fitting area of interest, managing your business expenses, and positioning your self appropriately along with your goal market, you’re probably to earn more money and thrive within the gig economic system.

As you proceed to uplevel your abilities as a freelancer, don’t overlook to take control of your finances. Although being your individual boss comes with extra freedom in comparison with conventional workers, dwelling on a fluctuating revenue as a freelancer could cause stress. To reduce your financial worries, use finances monitoring apps like Mint and handle your spendings in an organized approach.

 

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