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Freelancing during the Pandemic

by Menayal Baig

The Global Pandemic, COVID-19, has not only devastated the health but also the economy of the World. People have gone bankrupt during this time. Where some businesses are closing down, some are surging up. The freelance market is the one that has ascended unexpectedly during this pandemic time. According to Forbes, the only market which will continue to rise in the Post-COVID situation is Freelancing.

Freelancing has accommodated people to work from home and earn a handsome amount of money while practicing social distance and saving themselves from this pandemic. It provides comfortable hours working from home without any stress and tension level. The jobs in the freelancing sector have increased by up to 25% in the period between April to June this year.

The CEO of a freelancer company, Mr. Matt Barrie said during an interview with CNBC that “There will be a permanent step change in both working from home and the use of freelancers by businesses.” He also emphasized that during the post-COVID era, the work would shift more towards the independent work from home setting. He continued, “While COVID 19 has been the trigger of the already upward trending freelancer movement, this exponential growth can also be attributed to the strong demand of individuals to finally start their freelance enterprise, work on their terms and supplement their income.”

A report from the United Nation’s International Labor Organization has estimated that a total of 400 million full-time jobs were lost during the second quarter of 2020. However, on the positive side, because people are working from home, so there is an online increase in the job posting. For instance, according to a report freelance job posting has increased up to 41% that is 605,000 jobs in the second quarter of 2020 as compared to the same period in 2019.

Increased Freelancing Jobs

The quarantine period has proved to be a blessing period for freelancing companies. This economic area has witnessed an increase in freelancing jobs and works. According to the reports, the jobs have seen an increase in the demand of employers during the months from April to June, the quarantine months of 2020.

Freelancing Jobs in Mathematical Fields

The jobs related to mathematical fields like mathematics, algorithm projects, etc. have seen the greatest increase during the months from April to June. They have witnessed an increase of up to 99.6% that is 16,501 jobs. The area of statistical analysis also saw a surge in job positions, with jobs rising to 75%, i.e. 7,397 jobs. On the freelancing websites, the mathematically related jobs are usually found by the competitive trading platforms and investment sites. According to the US Bureau of Labor Statistics, the demand for mathematicians and statisticians is expected to grow 30% in 2028 as compared to 2018 levels, and the average salary for such roles would be $44.25 or $92,030 per hour.

Freelancing Jobs in Healthcare sectors

Along with the mathematical fields, the freelancing companies also demand jobs relating to the “interpreting, analyzing, and reporting” of the data. A report analyzed that, the demand mostly comes from the health-care institutions, media organizations, businesses, and governmental sectors, because they have to analyze, interpret and report the data like mortality rates, hospitalization, testing of the Covid-19 patients.

Freelancing Jobs in Online Shopping Sector

Because people are staying home, so there is also a rise in online shopping, which demands workers with applicable skills. In this area, the jobs have increased up to 68% in the second quarter of this year. Similarly, the e-commerce job posting on freelancing websites has also seen a surge of up to 54.4%.

On the other hand, as compared to freelancing, the face-to-face jobs have seen a decline over this pandemic period, with the dropping rate of 35.6%.

This shows that where other economic markets are going down the hill because of Coronavirus, the freelancing market is going up the hill. The working from home environment, lockdowns have facilitated this market, and it will continue to rise in the Post-COVID situation as many analysts have predicted.

(Source: CNBC)

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