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=== 9. Young and energetic employees are attracted to freelancing === | === 9. Young and energetic employees are attracted to freelancing === | ||
There is a growing trend toward freelance work among young Americans. For instance, Millennials and Gen Z have been ranked as the generations with the highest number of freelancers compared to other generations. A recent report by Upwork indicates that 43% of Gen Z and 46% of Millenial professionals did freelance jobs in 2022 compared to 35% and 27% of Gen X and Boomers, respectively.<ref name=":1">https://www.upwork.com/research/freelance-forward-2022</ref> The desire to work as a freelancer among the younger generations has been contributed heavily by the rise in influencer-style jobs<ref name=":1" />. The number of young workers freelancing is expected to rise as the US Bureau of Labor Statistics project that Gen Z will account for a third of the US labor force by 2030<ref>https://news.darden.virginia.edu/2022/08/10/its-time-to-get-to-know-gen-z/#:~:text=The%20U.S.%20Bureau%20of%20Labor,environment%20dictated%20by%20pandemic%20limitations.</ref>. As more young and energetic workers choose to freelance, more companies will go remote, and this is a huge gain for freelance platforms such as Upwork. | There is a growing trend toward freelance work among young Americans. For instance, Millennials and Gen Z have been ranked as the generations with the highest number of freelancers compared to other generations. A recent report by Upwork indicates that 43% of Gen Z and 46% of Millenial professionals did freelance jobs in 2022 compared to 35% and 27% of Gen X and Boomers, respectively.<ref name=":1">https://www.upwork.com/research/freelance-forward-2022</ref> The desire to work as a freelancer among the younger generations has been contributed heavily by the rise in influencer-style jobs<ref name=":1" />. The number of young workers freelancing is expected to rise as the US Bureau of Labor Statistics project that Gen Z will account for a third of the US labor force by 2030<ref>https://news.darden.virginia.edu/2022/08/10/its-time-to-get-to-know-gen-z/#:~:text=The%20U.S.%20Bureau%20of%20Labor,environment%20dictated%20by%20pandemic%20limitations.</ref>. As more young and energetic workers choose to freelance, more companies will go remote, and this is a huge gain for freelance platforms such as Upwork. | ||
=== 10. Aging Population in U.S === | |||
According to the U.S Census Bureau, America's population is aging. Between 2010 and 2019, the non-working-age population rose by 13.1 million or 12.9%. On the other hand, working-age population rose by 6.4 million or 3.1%<ref name=":3">https://www.census.gov/library/stories/2020/06/working-age-population-not-keeping-pace-with-growth-in-older-americans.html</ref>. A look into the country's dependancy ratio also suggests that the country is aging. In 2010, the dependancy ratio was 49. By 2019, that number had risen to 53.7<ref name=":3" />. | |||
== Upwork Red Flags == | == Upwork Red Flags == | ||