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The Rise of the Freelance Gig Economy: How Freelancing Became a Mainstream Career Choice
Freelancing, also known as self-employment, independent contracting, or gig work, has a long and fascinating history dating back centuries.
Amy
Oct 18, 2023
Freelancing, also known as self-employment, independent contracting, or gig work, has a long and fascinating history dating back centuries. In this blog, we’ll trace the evolution of freelance gigs – from its earliest use of the term to the present-day popularity of freelance marketplaces and beyond to the future of work.
Table of Contents
- The Origin of The Word “Freelance”
- The Rise of The Freelance Gig Economy
- The Benefits & Challenges of Freelancing
- The Future of Work
- Join the Right Freelance Marketplace
The Origin of the Word “Freelance”
Despite being used since the 1800s, the origin of the term “freelance” is still unknown. The term is believed to have come from the German word “frei lanschaffen,” which essentially means working for oneself. Back in the day, skilled workers grew accustomed to travelling from place to place in search of work and hopes of finding their next “gig”.
Over time, this way of job searching advanced and was followed by the emergence of freelance gigs. Developments from the 20th century onwards allowed professionals to find jobs online or through different media platforms like magazines, newspapers and flyers. The rise of freelancing in the 20th century saw talented journalists and writers turn their attention to writing various content on various topics for multiple publications.
Prior to this, however, many individuals operated as freelance consultants, engineers, accountants, and management experts. These individuals typically charge their clients an hourly or fixed rate.
Today – thanks to freelance marketplaces like Workfree – businesses can connect with freelance industry experts to solve business problems. These freelance marketplaces have created thriving freelance communities where professionals can network and find new opportunities.
The popularity of freelancing has grown significantly in recent years, with many people turning to freelance gigs for extra income or to pursue their passions. With the rise of online freelance marketplaces and communities, it’s becoming easier than ever for freelancers to find work and connect with potential clients, enjoy the flexibility and earn a decent income.
Freelancing offers a unique opportunity to make money while also having the freedom and flexibility that comes with being your own boss (sort of). As more people turn to freelance gigs as their primary source of income, it’s important that we understand the origin of this term and what it means today.
The Rise of the Freelance Gig Economy
Fast-forward to the present day, and the freelance gig economy has exploded in popularity. With more than 50 freelance marketplaces worldwide – this way of working has quickly become a popular and lucrative choice.
According to a study conducted by Zippia in the United States, as of 2022, there were just under 80 million freelancers contributing to the economy – 70.4 million freelancers to be exact. This represents 36% of the entire United States workforce. The number of professionals choosing freelance as a career choice is expected to continue to rise in the coming years, with estimates suggesting that freelancers will make up the majority of the workforce by 2027.
The growth and popularity of the internet and digital technology over the years have been key in contributing to the rise of the freelance gig economy. These two mediums have made it simpler than ever for freelance professionals to find projects to work on, interact with freelance communities, communicate with clients, access some of the best freelance marketplaces, and collaborate with coworkers around the globe in real time.
The Benefits and Challenges of Freelancing
Freelancing offers a number of benefits to workers, including greater flexibility, autonomy, and control over their own careers. Though breaking into the industry may be a challenge, freelancers have the opportunity to work on a variety of projects and gain experience in multiple industries, which can be beneficial for career growth and development.
However, freelancing also presents a number of challenges, including the need to constantly hustle for work, the lack of job security and benefits, and the potential for isolation and burnout.
Freelancers also need to be skilled at managing their own finances, setting rates, and negotiating contracts – which can be challenging for those who are new to self-employment.
The Future of Work
Based on past events, recent innovations and future predictions, it’s clear that the freelance gig economy will continue to grow and gain traction at an accelerated pace. Many professionals are gradually moving toward the direction of freelance gig work given the benefits it offers.
As AI and automation continue to advance, many jobs that were previously carried out by humans will be automated. This will ultimately lead to an even greater demand for freelance workers who specialize in areas that cannot be easily automated or that understand the inner workings of automation.
Despite the benefits offered by freelancing, there are also concerns about the potential impact of the freelance economy on the rights of workers, and concerns about job security. It’s important to note that many freelancers don’t have access to common traditional benefits offered to formal employees.
These include health insurance, retirement funds, and unemployment insurance funds. Aside from not having access to benefits, more often than not freelancers are contracted for a set amount of time. Taking these into account, it’s easy to see how this could leave freelance gig workers vulnerable in the event of an economic or health crisis.
In order to address these concerns, policymakers, employers, and business leaders need to collaborate to find solutions that strike a balance between the advantages of freelancing and the need for worker protection and societal safety nets.
Join the Right Freelance Marketplace
The history of freelancing is a long and fascinating one, and the future of work is sure to be even more dynamic and unpredictable.
By staying informed about the trends and challenges facing the freelance economy, workers can position themselves for success in a rapidly changing world.
Workfree is a freelance marketplace that aims to empower more than 1M freelancers worldwide with free tools, zero commissions and the best opportunities. Managing your freelance gig work is simple with Workfree. Using a single platform, you can apply for jobs, make contracts, issue invoices, collect payments, and manage your admin at no cost. Sign up to Workfree and connect with your ideal clients!