Rocket Ship Growth in Freelancers in the US
If you’re a U.S. freelancer, you’re part of a freelance workforce that’s growing at an astonishing rate. According to a survey conducted by UpWork and the Freelancers Union, there were 57.3 million freelancers in the U.S. in 2017 – a staggering 36% of the entire workforce!
In fact, if the rise in freelancing continues at the current rate, we’ll experience a majority of the U.S. workforce freelancing by 2027.
Why are more people freelancing than ever before in the US?
The survey results showed that the number of people freelancing in addition to regular employment had dropped to 16% – down from 19% in 2014. The number of full-time freelancers rose to 29%, up from 17% in 2014.
The survey also revealed that most people who freelance do so by choice. The unpredictability in income is one noted drawback. However, it’s offset by the fact that you can, to a reasonable degree, set your own rates and be in control of your own earnings.
The top freelancing drivers people cited were:
- Be their own boss
- Choose when they work
- Choose their own projects
- Choose where they work
- Earn extra money
Is freelancing a stable career choice?
Many freelancers saw it as more stable than having a single employer because they can diversify and service several clients at once. The average freelancer has 4.5 clients per month.
In some regards, freelancers are more employable than in-house employees, especially when it comes to up-to-date skills. Freelancers showed more awareness than the traditionally employed when it came to the potential impacts that automation might have on their job roles. Almost twice as many freelancers had participated in skills-related education over the past six months when compared with non-freelancers.
It’s not all positive, however. We’ve mentioned the unpredictable income, and a side effect of this is that 63% of freelancers dip into their savings at least once per month in comparison to only 20% of the traditionally employed.
For most freelancers, any downsides are outweighed by the sheer flexibility of freelancing – in terms of both time and income. Millennials, in particular, are waking up to the fact that a fulfilling career doesn’t have to include a 9-to-5 job. Almost 47 % of working millennials freelance, which is significantly higher than any other generation.
Coworking spaces are becoming even more popular with freelancers
Freelancing doesn’t have to mean giving up office comforts like fast WiFi, meeting rooms and the social aspect of having colleagues. Alongside the rocket ship growth in freelancing, the use of coworking spaces is also on the rise. Working from a coworking space gives freelancers the productivity boost they need from working in an office environment – without losing the flexibility of the freelance lifestyle.
In a 2015 study, 84% of co-workers reported that they were more engaged and more motivated after becoming a member of a coworking space, and 83% reported a decrease in their sense of isolation.
If you’re a freelancer in New Jersey, Office Evolution Hackensack in the heart of Northern New Jersey has everything you need – including complimentary tea and Starbucks coffee!
We offer meeting rooms, offices, hot desking in a shared workspace coworking lounge, a shared reception, a business address, and virtual receptionist services. We have many options and price points, and all terms are flexible. Plus, you become part of a community of like-minded professionals, including plenty of freelancers.
We’re conveniently located in the heart of Bergen County just off Route 4, with ample parking. Contact us today to set up a tour.
At Office Evolution Hackensack, we provide virtual office, coworking, and private office solutions at our shared office center. We offer meeting rooms, offices, a shared workspace coworking lounge, a shared reception, a business address, and virtual receptionist services. We have many options and price points, and all terms are flexible. Plus, you become part of a community of like-minded professionals.
Whether you live in Teaneck, Bergenfield, Maywood, Teterboro, Hasbrouck Heights, Moonachie, Little Ferry, Rochelle Park, Dumont, Bogota, River Edge, New Milford, Hackensack, Englewood, Paramus, Tenafly, Fort Lee, and other communities nearby in Bergen and Essex counties, choosing Office Evolution Hackensack in New Jersey will help you be more professional, productive, and profitable.