The gig economy is growing and the pandemic did nothing to slow it down. Freelancers report extreme work satisfaction.

The gig economy is growing and more segments of the workforce are striking out alone on a freelance basis to make a living unrestricted by a single employer - or out of sheer necessity to earn a steady income.

An analysis by the online freelance marketplace Fiverr - in partnership with the consulting firm Rockbridge Associates - found that skilled freelancers or independent workers represented $234 billion in revenue in 2020.

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The Rockbridge Associates report - its fourth such partnership wth Fiverr - is based on analysis of over 20 million tax returns from annually compiled Non-Employer U.S. Census Bureau statistics. The research sought to help observers better understand the size, growth and skills of gig workers across the 30 largest metropolitan cities for independent knowledge-based work.

Unsplash image - Elena Rabkin

Fiverr CEO Micha Kaufman, in a press release announcing the findings, said while "2020 has been a challenging year .... (it was) also one that propelled the digital workforce to heights we never could have imagined. For skilled freelancers, the pandemic exacerbated the difference between those that, up until now, had chosen to work offline, and those that had opened their eyes to online opportunities."

The study found that skilled freelance work has established a permanent foothold in the U.S. economy, and suggested that online platforms, gig-work apps and other resources created to support the freelance workforce will continue to grow.

The numbers don’t lie and it’s now abundantly clear to all that this form of work is a viable career choice for millions of people nationwide. Independent work is no longer a segment of the workforce that can be ignored. - Fiverr CEO Micah Kaufman

Other comprehensive findings - according to the study's 54-page report and Fiverr press release:

• Skilled freelancing is a sustainable economic force: Three-quarters of skilled independents (75 percent) are more hopeful than fearful about the future of skilled independent work.
• Freelance income can stabilize a workers during times of high unemployment: Six in ten (59 percent) skilled independents said their revenue was the same or greater in 2020 than in 2019 before the pandemic; while 80 percent expect to make the same or more in 2021.
• Mobility and freedom is enabled by freelancing: The study found neary 80 percent of skilled freelancers believe their work gives them the freedom to live anywhere.
• Online freelance platforms are critical tool for staying competitive: Online platforms helped 41 percent of freelancers to increase their revenue; only 19 percent of non-digital platorm users saw such an increase. Optimism for 2021 being even better is high (57 percent) among freelance platform users.

“The numbers don’t lie and it’s now abundantly clear to all that this form of work is a viable career choice for millions of people nationwide," said Kaufman, CEO at Fiverr. "Independent work is no longer a segment of the workforce that can be ignored."

Unsplash image - from Social.cut

Hilary Ross-Rojas, Research Director at Rockbridge Associates, said freelancers also appear to be more satisified with their independent work than traditional employees. "They have big plans for the post-pandemic future," said Ross-Rojas, adding that resources for independents include "new marketing and offerings and more training and education to support their business expansion."

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