State of Independence Report Released - Profile of US freelancers, etc.

[Steve King]

We just released the 2012 MBO Partners State of Independence report.  This study profiles US independent workers (freelancers, temps, etc.).  Our firm, Emergent Research, worked with MBO Partners on this study.

Key findings that I think will be of interest to this group include:

• We estimate there are 16.9 million independent workers in the US
• About 40% of these folks list home as their primary workplace
• 1.7% of the respondents said they had or were working in a coworking space. 
• The median income for independent workers is $51,000
• 2.2 million independent workers earn more than $100,000 
• About 50% of the $100k+ club list home as their primary place of work

A couple of comments.  For the purposes of this study one of the criteria for being included as an independent worker was working at least 15 hours per week.  In other words, we don't include most part-time independents.  If we included all the part-timers, the number of US independent workers would be in the 34 million range.  

As I mentioned on this group a couple of months ago, this was the first time we've seen coworking blip on a statistically representative, national survey.  The 1.7% overstates the number of folks who work at coworking facilities, which is a common survey outcome for a hot topic like coworking.  But we do think this is an excellent sign and shows that awareness of coworking by independent workers is growing.  

The number of independents working from home is consistent with our 2011 survey and consistent with other surveys.  

Please see the report for more details - there's a lot in there.  Also, please let me know if you have any questions.

Steve

[Will Bennis, Locus Workspace]

Thank you, Steve! Really great stuff.

Will

[Tony Bacigalupo]

Steve, great work! This is awesome and hugely helpful in so many contexts. Keep rocking it!

Cheers,

Tony

Steve

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[Alex Sante]

Excellent work.  Thank you for sharing.

[Alex Hillman]

I had just reviewed the 2011 report a few weeks ago, super stoked to get to take a spin through this one.

Any chance you can share the 2011 one for others who haven't recently reviewed for comparison?

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/ah

indyhall.org

coworking in philadelphia

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[Craig Baute - Creative Density Coworking]

Thank Steve. I'm a data whore and I look forward to reading this report and getting back to you with any questions.

Craig

[Steve King]

For those who want to see the 2011 State of Independence report, click here.  The 2012 data is mostly consistent with 2011, which is good.  Labor markets don't tend to significantly shift from year to year unless there is a major event like a recession or strong recovery.  Because the data is consistent, we are much more confident about our results.

The major differences between 2011 and 2012 are:

• independent worker satisfaction went up.
• independent worker views of the challenges and obstacles they face declined
• The % of independent workers who say they are more secure being independent than having a traditional job increased to 39% in 2012 versus 30% in 2011.
• The percent of independent workers who said they would seek a traditional job decreased from 19% to 12%.

I think the improving economy is one reason for these numbers.  I also think traditional employment continues to lose its attractiveness due to benefit cuts, a lack of job security, longer hours, etc.  

I think it's important to note that not everyone is happy being independent.  Based on our reading of the entire set of study results, we think about 25% of independent workers are quite unhappy and would much prefer a traditional job.  We think another 25% is on the fence and the other 50% are quite happy.  

They key factors around whether or not someone is happy being independent are whether or not they chose independence, their income and their attitude towards the challenges.  Folks that didn't choose to be independent due to job loss, inability to find a traditional job, etc. tend to be less satisfied.  The same goes for folks in the bottom 25% of earnings and folks who rate the challenges (lack of predictable income, lack of benefits, etc.) as significant.  

The bottom line is independent work is great for those with the right skills and abilities looking for career control, freedom and flexibility.  For others, it's less attractive.

Steve