Freelancers within the US earned $234 billion in 2020

Many American staff turned to distant and contract work throughout the pandemic, and are feeling optimistic about the way forward for freelancing.

Picture: Getty Photos/iStockphoto

As COVID-19 has meant layoffs for a lot of People — as of March, we’re nonetheless at a 6% unemployment fee, in accordance with a latest US Bureau of Labor Statistics report — many of those staff turned to a brand new employment choice: Freelancing. Particularly due to the transition from the workplace to the digital atmosphere required throughout the pandemic, on-line work has develop into a welcome choice for a lot of. In March 2021, 21% of all employed folks labored from dwelling. And the numbers reveal the consequences of this clearly: A brand new report reveals that in 2020, freelancers within the U.S. earned $234 billion, 1.1% of the full GDP.

The Freelance Financial Influence Report, launched on Wednesday by Fiverr, culled income knowledge from the Census Bureau and checked out 20 million tax returns as an instance how 6 million expert freelance staff have tailored to the post-pandemic world. These staff occupy fields in inventive, technical and different skilled positions.

Listed below are a number of the main findings:

SEE: Return to work: What the brand new regular will appear to be post-pandemic (free PDF) (TechRepublic)

  1. Freelancing is not going anyplace. Freelancing existed earlier than COVID-19, in fact, however there isn’t any denying that the worldwide pandemic ushered in a brand new age of digital work. A majority of these surveyed, (63%), see the pandemic as having both no affect or a constructive affect on their capability to work. And 75% are optimistic about the way forward for their work.
  2. Freelance revenue has been secure. Regardless of the volatility of freelance life, 59% of freelancers reported the identical or extra revenue final yr versus pre-pandemic. And a whopping 80% of freelancers predict that they may make much more in 2021.
  3. Sunny climates appeal to extra freelancers than ever. Maybe due to their capability to work anyplace, extra freelancers are occupying warm-weather markets. Miami is the third hottest freelancer vacation spot, and Phoenix, Las Vegas and Portland have risen above Seattle, Baltimore and Riverside, respectively. The opposite high cities (so as of fastest-growing by inhabitants for freelancers) embrace Orlando, Florida; Nashville, Tennessee; Austin, Texas; Tampa, Florida; Las Vegas, Nevada; Charlotte, North Carolina; Dallas, Texas; Portland, Oregon; Houston, Texas; Denver, Colorado; Atlanta, Georgia; Los Angeles, California; San Diego, California; New York, New York; Sacramento, California; Washington, D.C; Philadelphia, Pennsylvania; St. Louis, Missouri; Pittsburgh, Pennsylvania; Boston, Massachusetts; San Francisco, California; Detroit, Michigan; Chicago, Illinois; San Jose, California; Minneapolis, Minnesota.

“2020 has been a difficult yr but additionally one which propelled the digital workforce to heights we by no means might have imagined. For expert freelancers, the pandemic exacerbated the distinction between those who, up till now, had chosen to work offline, and those who had opened their eyes to on-line alternatives,” stated Micha Kaufman, CEO at Fiverr, within the press launch. “The numbers do not lie and it is now abundantly clear to all that this type of work is a viable profession selection for hundreds of thousands of individuals nationwide. Unbiased work is now not a section of the workforce that may be ignored.” 

Editor’s notice: This text has been up to date to appropriate the identify Fiverr.

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