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Study: Americans shift from traditional to independent jobs
by Joseph Earnest September 30, 2015
Newscast Media HERNDON, VA—MBO Partners, the largest and most experienced provider of independent contractor engagement solutions, has released its 2015 State of Independence in America Report.
The independent workforce, now boasting 30.2 million Independents aged 21 and over, continues to grow at a faster pace than overall American employment. These independents work on a full- or part-time basis each week doing work described as everything from freelance to independent consulting.
Six in 10 independent workers report that going independent was their choice completely. Some of the biggest draws to independent work include the freedom, flexibility and purpose that self-employment affords. In addition, 45 percent of independent workers report making more money than they would in a traditional job.
“The independent workforce is thriving, and we’re predicting that it will expand at more than 5 times the rate of the overall employment growth in the United States in the next five years,” said Gene Zaino, founder and CEO of MBO Partners. “Independent workers are a key driver of the American economy, producing $1.15 trillion in revenues each year, and we expect this number will continue to grow.”
MBO Partners expects the independent workforce to swell to 38 million independent workers by 2020.
The 2015 State of Independence Report is the largest longitudinal study of its kind, tracking five-year growth based on more than 13,000 in-depth surveys of independent workers since 2011. The study provides insight into the attitudes, motivations, and demographics of America’s self-employed workforce aged 21 and over who pursue independent work on a weekly or regular basis. Demographic breakdowns highlighted in the report include age, income, gender, and other factors.
This year’s report looks specifically at several subsets of the full-time independent workforce, including those who make more than $100,000 each year in independent work. In 2015, 2.9 million of the 17.8 million Full-Time Independents (people who work 15 or more hours per week) earned more than $100,000, up 45 percent from 2 million in 2011. Read or download the entire study here. (pop-up)
The study also dives deep into the attitudes and motivation of Millennials, who make up 30% of the independent workforce, and are expected to pass Generation X to become the largest independent worker generation within the next two years. To date, there are 5.35 million Millennials working solo, compared to 1.9 million in 2011.
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