The Bureau of Labor Statistics released their Regional and State Employment and Unemployment Summary on Friday. Overall, regional and state unemployment rates saw little change in August. Each month reports are released and the focus is on jobs. And each month, a major and growing engine of the workforce is overlooked. The “hidden” workforce – Freelancers,Temporary Workers, Independent Contractors, Self-employed, Business Owners, Consultants, etc. – contribute significantly to the economy.
MBO Partners recently released their third annual Independent Workforce Report. Here are some interesting facts discovered in the most recent report:
- Nearly $1.2 Trillion in total income was generated by independents, up a strong 20% from 2012.
- Roughly 1 in 4 independents hired other independents, spending $96 billion and employing the equivalent of 2.3 million full-time workers via contract hiring.
- Independence is a structural shift, not a blip, in the jobs economy. In 2013, the sector rose again, up 2.7% over 2012 and 8.2% over 2011.
- Independents earn income both globally and locally: $43 billion came from overseas while $700 billion came from their metro areas.
- One in seven independents plan on building a bigger business. Close to 2.5 million independent workers plan to launch larger businesses.
At the same time this incredible growth is occurring, the Federal and State governments continue to crack-down on Independent Contractor Compliance. Support for this sector needs to shift. When will Independents and the businesses who hire them be recognized as a positive force in the growing economy?
KDragonfly is leading the way to support the Independent Workforce and the businesses who need them. If you’re a business, post a gig to find talent needed for your project or task. If you’re a Guru, increase your visibility to project work by building your profile.
You may find more interesting facts and information about The State of Independence in America here .