MBO Partners has released their 2015 State of Independence report, the largest and most in-depth study on the independent workforce in America.
Some key findings of the report include:
- The independent workforce, now boasting 30.2 million Independents aged 21 and over, continues to grow at a faster pace than overall American employment. This number is split between 17.8 million full-time independents, and 12.4 million part-time Independents. These are people who described regularly working as independent workers (self-employed, independent contractors, freelancers, etc.).
- 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% from 2 million in 2011.
- The single most-often cited factor for working independently was “the ability to control my own schedule.” (61%)
- 43% of those currently working full-time as Independents report that they generally feel more secure working independently, up from 33% in 2011.
- 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.
- 79% of independent workers reported they are happy being self-employed.
- By 2020, the number of independent workers in America is expected to grow to 37.9 million.
The short video and infographic below contains more data and information. Please visit the study’s website for additional resources.
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Source: MBO Partners