Independence Day is upon us! There is probably nothing more American than the Fourth of July – Bar B Q, freedom, beer and flags are in full swing! You know what else is in full swing? An economy made up of independent workers.
In honor of the day when Americans celebrate their independence, we thought it would be fun to take a look at the phenomenon taking over America – the gig economy. Here are some independent worker facts to help you celebrate.
Independent workers aren’t doing it because they can’t find a job.
Freelancing used to be what you did when you couldn’t find a job. It’s no wonder then that according to The Freelancer’s Union, there was an uptick in independent workers during and shortly after The Great Recession. Heck – that’s how I started my freelance career!
Fast forward a few years and it seems like the gig economy is here to stay. Uber is taking over the world, freelancers claim to be making more money than they did at their previous jobs, and according to reports released last year, it seems the 9 to 5 job may be on it’s way out. (Note: I personally doubt the 9 to 5 job is dead, but I certainly believe it needs a reformation.)
People are now willingly quitting their jobs to freelance and the main reasons are for freedom and flexibility. And so it would seem that independent workers fit quite well into the theme of Fourth of July – they want their independence and they want it bad.
Independent workers are making money.
As I mentioned in the last section, independent workers claim to be making more money than they did at their last jobs. According to a study released by MBO Partners, 45% of the freelancers surveyed said they are making more money as freelancers than they did as employees.
This has certainly been true for me. Even after business expenses and taxes I’ve still was able to myself more than what my last salary was. I used to make $80 in a day whereas now I can make $400 in less time. Granted, I believe it takes some time to get there (this didn’t happen overnight, people) and there are certainly some financial downsides to freelancing, but I also know that the opportunity to make more money is definitely there.
Independent workers are happier.
The same survey found that independent workers aren’t just making more money, they are also happier. About 43% of the freelancers surveyed reported they feel more secure as independent workers than as an employee for someone else.
As a former recruiter, I totally get that. It was when I got tired of interviewing people who’d been laid off and lost all their income in one fell swoop that I realized freelancing would be the only way to make sure I always had money coming from different places. That alone can give you major peace of mind.
While freelancing certainly isn’t for everyone, it does seem like independent workers have a lot to smile about this Independence Day.
