There’s a lot of news articles out there about how the pandemic has affected specific industries, how many workers are unemployed and struggling, or how the economy in general has taken a hit. But how are freelancers and remote workers doing during the pandemic?
Surprisingly well, according to one report.
Payoneer, a payments processor, recently published the results of a survey of freelancers from more than 100 countries, which uncovered some interesting insights about the state of freelancing around the world.
At the start of the pandemic, most freelancers weren’t feeling optimistic, with 32 percent of survey respondents saying demand for their services decreased in March 2020.
However, when compared to actual payments processed by Payoneer, revenues shot back up in May and June with 28 percent month-to-month growth. In fact, freelancers around the globe have experienced revenue surges, even in the U.S. despite a massive contraction of the U.S. economy. And as the report points out, there seems to be even greater demand for freelancers in the U.S. than prior to the pandemic.
What’s even more interesting is the seeming explosion of demand for freelancers from developing nations. Payoneer notes that year-over-year freelancer revenues have seen significant boosts in countries like the Philippines, India, Mexico, Pakistan, and Argentina.
This shadows growth seen in the U.S., but also countries with more developed economies like Australia, Canada, Hong Kong, and Spain.
*Based on year-on-year revenue growth
And it’s not just basic entry-level type jobs that are growing, nor just specialized tech jobs. Certainly, software development freelancers are as in demand today as they have been over the past 10+ years, but now there’s even demand for typical roles that have traditionally been done in-house. These include strategy consultants, finance experts, and even HR talent. This is likely because companies are more widely recognizing the benefits of hiring remote workers.
Unfortunately, many other types of freelancers who can’t work virtually are facing somewhat of a harder time. Freelance journalists, for example, are having an even more challenging time than usual (their jobs are already difficult). They’re often used as field reporters when newsrooms are stretched too thinly and can’t send staff to cover an event or region where it’s difficult to send someone in person. The same is true for the film and television industry, which uses a wide variety of freelancers who rely on in-person work.
So while some roles are certainly facing major challenges during the coronavirus, there appear to be widespread opportunities freelancing that are likely at the forefront of our changing global economy.
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