U.S. Independent Workforce Remains Strong, According to MBO Partners 8th Annual State of Independence Report

The independent workforce is strong, mature and evolving amidst the
overall U.S. economy’s solid growth, according to MBO
Partners, the nation’s largest provider of business services and
tools to the self-employed and companies who engage them. The company
today released its 2018
State of Independence in America Report, the country’s
longest-running end-to-end study of the American independent workforce.

Despite record-low unemployment rates, the 2018 report finds that the
total number independent workers has risen 2.2 percent to 41.8 million,
up from 40.9 million in 2017. Between January 2011 and January 2018, the
U.S. economy added 17 million payroll jobs, but in that same period, the
number American’s choosing independent work has remained relatively flat.

“These stats indicate that independent work and traditional jobs are not
engaged in a zero-sum fight, but rather, growing in unison,” said Gene
Zaino, CEO of MBO Partners. “People from all industries choose to become
independent professionals, and the key word here is ‘choose.’”

MBO’s eighth annual report, the longest running of its kind, found that
nearly two in three full-time independent workers say that it’s their
choice entirely to work independently, compared to half of full-time
independent workers in 2014. And they’re happy with their choice: 79
percent of all full-time independents report that they are happier
working on their own than in a traditional job, and 68 percent said
working on their own is better for their health.

With each passing year, independents account for a larger amount of U.S.
economic activity. In 2017, independent workers generated roughly $1.3
trillion of revenue for the U.S. economy, equal to about 6.7 percent of
U.S. GDP. One in five full-time independents—3.3 million people—are
“high-earning independents” who make more than $100,000.

Three key trends emerged from this year’s study:

“For the eighth year running, our research shows that engaging the
independent workforce is increasingly an integral part of doing
business, especially for large enterprises,” said Zaino. “As the demand
for skilled independents continues to rise, we can expect the numbers of
high-earning independents to keep growing as well.”

For more information or to obtain a copy of the 8th annual
State of Independence report, please visit https://www.mbopartners.com/state-of-independence.

About MBO Partners

MBO Partners has the industry’s only complete business operating system
for independent workers, offering technology solutions that make it easy
for self-employed professionals and their clients to do business. By
re-envisioning and streamlining the entire contract talent acquisition
and engagement lifecycle, MBO improves how independents operate and
succeed while helping enterprises reduce risk and get the best return on
their contractor investments. To learn more, visit www.mbopartners.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180711005022/en/

Leave a Comment