The rise of the self-employed will give these firms a boost
Some 57.3 million Americans, or 36% of the workforce, are freelancing and contributing approximately $1.4 trillion annually to the economy, according to a research study by Upwork and the Freelancers Union titled “Freelancing in America: 2017.” The report found that the freelance workforce grew three times as fast as the overall workforce. Freelancers will make up the majority of America’s workforce by 2027, based on growth rates seen in the past year. Meanwhile, the Internal Revenue Service shows sole proprietorship registrations growing at an average rate of 1.6% a year (not counting the 2008 financial crisis), and rising one basis point every year for the past three years ending 2016 (the latest year that data is available).