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Freelancers within the US earned $234 billion in 2020

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

Picture: Getty Photographs/iStockphoto

As COVID-19 has meant layoffs for a lot of Individuals — as of March, we’re nonetheless at a 6% unemployment price, in line with a latest US Bureau of Labor Statistics report — many of those staff turned to a brand new employment possibility: Freelancing. Particularly due to the transition from the workplace to the digital surroundings required through the pandemic, on-line work has grow to be a welcome possibility for a lot of. In March 2021, 21% of all employed folks labored from house. And the numbers reveal the consequences of this clearly: A brand new report exhibits that in 2020, freelancers within the U.S. earned $234 billion, 1.1% of the whole GDP.

The Freelance Financial Affect 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 artistic, technical and different skilled positions.

Listed below are among the main findings:

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

  1. Freelancing is not going anyplace. Freelancing existed earlier than COVID-19, after all, however there is no 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 influence or a constructive influence on their skill 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 12 months versus pre-pandemic. And a whopping 80% of freelancers predict that they are going to make much more in 2021.
  3. Sunny climates entice extra freelancers than ever. Maybe due to their skill 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 12 months but in addition one which propelled the digital workforce to heights we by no means may 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,” mentioned 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 thousands and thousands of individuals nationwide. Unbiased work is not a section of the workforce that may be ignored.” 

Editor’s be aware: This text has been up to date to right the title Fiverr.

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