Why The Freelancer Economy is on the Rise

According to statistics from the Department of Labor, there are over 16 million people self-employed in the U.S. as of today, which represents an increase of roughly 1 million since 2015. These numbers are expected to keep climbing and by 2020 some studies expect them to reach the 60 million mark, which is 40% of the United States workforce.

Independent workers like contractors, freelancers, temps and even day traders of stock, options and cryptocurrency are definitely skyrocketing in a phenomenon called “The Rise of the Supertemp” by the Harvard Business Review. Many professionals like CMOs, writers, doctors, attorneys, and consultants with top-notch education are choosing to work independently.

Some of the reasons accountable for this shift include the modern economic climate, corporate downsizing, and overall employee dissatisfaction. However, there are two major things that are slowing fueling this trend in a big way making it so much easier for people to become independent workers.

New Platforms Pair Business with Talent

One of the major factors boosting independent jobs is the creation of countless platforms available to match companies with talented workers. From apps and social platforms to websites, there are plenty of options in the market that are making it possible to work remotely.

However, one of the biggest issues for most freelance workers today is filling up their schedule. With the rise of these types of jobs, millions of people from around the world are flooding these platforms and making it harder for individuals to secure enough work. Online marketplaces are addressing this obstacle by limiting the number of people allowed to create profiles depending on their skill sets and launching new job categories so that talented workers can find a job in their specific field. Most of the platforms count with many subcategories that range from legal writing and proofreading to designing label artwork.

HourlyNerd, Contently, and Upwork are amongst the countless platforms that allow users to bid on specific projects, letting businesses compare the applicant’s profiles and choose which one is the best match for their needs.

More Opportunities to Make Money Online

Today you don’t need to train for months or years in wall street to be an adept stock trader. Plenty of day-traders successfully trade binary options and cryptocurrency online. In fact it’s made a lot of people very rich, though it does carry a much larger risk than traditional freelancing work. If it does seem daunting to learn, there are plenty of resources to learn binary options trading from.

With the recent rise of bitcoin, it has caused many who bought into it early to become very rich, whilst the mainstream is now jumping on the bandwagon. It’s never too late to make money from the almost unreal cryptocurrency rise, but tread carefully.

Only ever spend what you can afford to lose, and always do your research!

If trading is not your thing, then of course there is always traditional freelancing as noted above, specially if you have a skill people are willing to pay for. Your employed can literally be on the other side of the world and it will not make a difference to them or yourself.

Sharing Spaces

Independent workers can often feel isolated. With the rise of freelance marketplaces, co-working spaces have multiplied in major cities, providing freelancers unprecedented resources and support.

But these shared spaces are not just providing human contact and a sense of community to independent workers. Companies like WeWork offer fun and creative workspaces for independent contractors in most major cities of the world. Their focus is to develop a collaborative ambiance where freelancers can perform better. Some of WeWork spaces can even include fresh fruit, arcades, and beer on tap.

There are some traditional perks too. WeWork partners can even provide services like web consulting, human resources, and web consulting – taking some tension off freelancers to do everything by themselves. In case you feel like this is just a temporary trend, remember that WeWork was valued at $10 billion.

The Future of Freelancing

Talent-matching platforms and shared working spaces might only be two major trends in the current freelancer economy, but the truth is that this phenomenon it’s getting more robust each day. The logical thing to expect is the creation of new services that function as a bridge between independent contractors and businesses in more flexible and accessible ways, allowing everyone – no matter their skill set – to find a job.

Let’s not forget that the rise of freelancer work isn’t just a benefit for freelancers. Businesses around the world are now able to find better-qualified and more talented workers to meet their specific needs – in most cases, at lower rates. So rather than hiring someone full time, which includes providing benefits and a salary, they can just hire a consultant that’s best suited for the job for less money.

It’s also worth keeping in mind that this freelancer economy it’s not the same as doing ‘temp’ labor. In fact, an independent worker is just like a regular worker but seeks more flexibility than traditional employees, and most of the time they’re getting it.

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