With strict physical distancing protocols now firmly in place, it should come as no surprise that freelance remote workers have started to impact the economy – helping businesses trudge forward during these unpredictable times. The concept of working from home had already been gaining momentum even before the emergence of the coronavirus, but the current crisis has hastened the transition to a “remote work reality” even more. According to a survey done by freelance job finding website Upwork, American freelancers generated more than one trillion dollars in annual revenue last year, indicating a 22% growth from the previous year. Following are five signs that Covid-19 is changing the way people work.
- Rise In Young Freelancers: One out of every two workers between the ages of 18 to 22 are currently employed in freelance jobs – more than a third of them starting during the pandemic. Physical distancing has made finding a “regular” job very difficult, so those hopeful first-time workers have begun to penetrate the freelance job market in search of income.
- Freelancers Among Least Affected By Pandemic: People who had already been working as freelancers were less affected by the coronavirus pandemic. This is due in part to the “home-based” nature of their work, which allows them to sustain an income without having to leave the comfort and safety of their own homes.
- Freelancers Earning More Than Ever: Three out of every four people who transitioned to freelance work from a regular office-based setup now say that they are able to earn the same salary, if not more, compared to previous jobs. They are also able to do this while remaining more or less content with their workload.
- Full-time Freelancing On The Rise: People are now looking at going full-time with freelancing as a long-term work option. 36% of all people that work freelance jobs do it as their primary source of income – an increase of nearly 10% from the previous year.
- Laid Off Workers Turning To Freelancing: Many workers have been laid off because of complications relevant to the ongoing pandemic. Good thing the freelance job market is there for those unlucky enough to have lost their jobs. More than 10% of all American workers took up freelancing jobs when the health crisis hit – bringing with them important skills and experiences carried over from their previous employment.
The business world is changing – and the rate at which it changes seems to be increasing more and more each day. Get in touch with Tukko Labs and find out how we can help your business adjust to all the most recent developments and trends as they happen.