By: Morgan Stanley
(June 4th, 2018) – Shifting demographics, digitalization, and the desire for greater job satisfaction could redesign the landscape of global employment into a freelance-driven model in the coming years, presenting benefits and challenges to corporates, the staffing industry, and the freelancers themselves.
In the United Kingdom, France and the Netherlands, freelance growth has outpaced overall employment growth. The number of freelancers in the European Union (EU-28) doubled between 2000 and 2014, making them the fastest growing group in the EU labor market, according to the Association of Independent Professionals and the Self-Employed (IPSE).
A similar trend is underway in the U.S. “In the United States, the freelance workforce has grown three times faster than the overall workforce,” says Jessica Alsford, the firm’s head of Global Sustainability Research. “Freelancers now represent 35% of the total U.S. working population and could represent more than half of the nation’s workforce by 2027.”
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