An increasing number of Americans are taking up freelancing as a profession and a sizeable number of them are young Americans. Speaking on this new trend that is slowly yet steadily gaining momentum, Adam Ozimek, the chief economist from Upwork has said that the coming days are likely to see more and more people working on independent terms, rather than in terms set by their employers. To make this possible, more people will be taking up freelancing as their livelihood. Upwork is a service based in San Francisco, which acts as a platform for the freelancers to get in touch with the companies.
Indeed, more and more Americans are picking up careers as freelancers, lured by a healthy economy, low rate of unemployment and the increasing knack of the younger generation to take to state of the art technology.
These were some of the observations made by Upwork as well as the Freelancers Union. Their observations were published in the final report on Freelancing in America 2019.
The picture that is drawn by the reports shows a labor market that is gradually improving for the first time since 2014 when the annual report started to be published every year. The report further says that a substantial proportion of these freelancers are considering freelancing as their long term profession, though another proportion of them, about 50% is considering it as a short term profession. The report further mentioned that freelancing is now growing abruptly, and has a contribution of $1 trillion in the economy and is fast approaching to constitute 5% of the GDP of the United States.
As per the report, over the last 5 years, professionals who are into full-time freelancing have risen from 17% to 28% of the total workforce. As per the trend, the younger is an individual, it is more likely he or she will pick up freelancing as a profession.