More people are trading traditional employment for freelance work

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DENVER (KDVR) — With an uncertain economy, a new report shows more people are skipping out on traditional employment and looking for freelance work instead.

According to Upwork, 3/4 of people who used to work in a traditional employment format say they earn just as much (if not more) while freelancing now.

The total number of people who’ve jumped to freelancing since 2019 is up by more than 1/3 overall, according to Upwork.

“I’m not surprised. I thought it was actually going to happen faster than it has over the last 10 years,” said Rick Wagner, president of Employment Solutions.

Employment Solutions is a hiring agency specializing in manufacturing.

While it doesn’t work specifically with freelancers, Wagner certainly understands the allure of it.

“The benefit is the flexibility and the negatives is the consistency of work. So if you’re looking for that (full-time) paycheck each week, it can be not as reliable as a full-time position,” Wagner said.

According to the new data from Upwork, the share of independent professionals who make a living freelancing (full-time) jumped up by 8% to 36% since 2019.

The report also suggests 48% of those who started freelancing already see it as both a full-time and long-term career opportunity, according to Upwork.

The biggest downfall to freelance work? A lack of health insurance.

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