The MBO Partners State of Independence Report was recently released for the fourth consecutive year. The survey examined the attitudes of the 17.9 million independent workers – self-employed, independent contractors and freelancers – who are working 15 or more hours per week in the U.S. today. The number of independent workers is up 1.2 percent from 2013 and has risen 12.5 percent since 2011 when MBO put out their first report.
Other significant findings follow:
- The overall workforce in the U.S. grew just 1.1 percent since 2011
- It is forecasted that independent workers are expected to grow to 24.5 million people by 2019
- The study revealed that there are 12.1 million workers in the U.S. who are working side jobs for 15 or less hours per week to supplement their income
- 82 percent of those polled are happy working independently while 30 percent say they are not satisfied and desire more stable work (full-time traditional jobs)
- Of those who say they are happy with their current working status, 63 percent report being very satisfied and 19 percent report being satisfied
- 76 percent of satisfied independent workers plan on remaining independent in the future
- Independent workers generated $1.1 trillion in income last year
- Men and women choose to be independent at similar rates but their reasons for doing so are different – men enjoy being their own boss while women enjoy the flexibility it provides
- Independents represent all age groups – 28 percent Millennials, 29 percent Gen X, 30 percent Baby Boomers and 14 percent are Matures (ages 68+)
For additional insights, read the entire report.
“2014 MBO Partners State of Independence Report Released”. Smallbizlabs.com. 10/6/2014.
“MBO Partners 2014 State of Independence in America Report”. Info.mbopartners.com.