Approximately 57 million Americans were freelancing in 2017, and if trends continue, over half of American's will freelancing by 2027, according to an article in Forbes. Some of those are full-time freelancers; others are still holding down a 9-5 job, but doing side hustles in their free time. The proliferation of such part-time and freelance work has people talking about a new kind of labor market: The Gig Economy.
“According to Payoneer's data, the average freelancer works 36 hours a week at a rate of $21 per hour, giving them an annual pretax salary of more than $39,000.
What Is a Freelancer?
A freelancer is a self-employed person who offers services to clients. These services are often, though not necessarily, are offered to businesses, though the proliferation of sharing economy apps like TaskRabbit and Mechanical Turk. However, individuals can offer their services directly to clients, without third-party resources that often take a cut of the pay.
Why Would You Want to Freelance?
There are several reasons to start freelancing:
Done on the side around your job, it's a way to generate extra income to pay off debt or save for a rainy day.
It allows for greater independence over a job. It's often flexible, allowing you to work part-time or during off-business hours.
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