Freelance worker revenue in U.S. soars to $191Bn in 2023
NEW YORK, UNITED STATES — The freelance economy continues to demonstrate robust growth, with independent professionals in the top 30 U.S. markets generating an estimated $191 billion in revenue in 2023.
This represents a 6.1% increase from the previous year.
Significant contribution to U.S. economy
Independent professionals now represent 4.1% of the U.S. labor force, contributing 1.1% to the nation’s gross domestic product (GDP).
The report highlights that despite economic uncertainties, freelancers are finding financial success, with 43% reporting increased revenues in 2023 and 55% expecting further growth in 2024.
Top U.S. markets for freelance workers
According to Fiverr’s 2024 Freelance Economic Impact Report, the top 30 metropolitan statistical areas (MSAs) in the U.S. are home to 57% of all independent professionals, who collectively earned $191 billion in 2023. New York, Los Angeles, and Miami are the leading markets both in terms of the number of freelancers and revenue generated.
These markets have seen significant growth, with Orlando, Miami, Las Vegas, Houston, Tampa, and Nashville identified as the fastest-growing in terms of total independent workers.
Freelancers in the top 30 markets earn, on average, $4,334 more annually than their counterparts across the U.S., with an average income of $48,288 compared to the national average of $43,954.
The highest annual receipts per professional are found in San Jose, San Francisco, and Washington, D.C., while St. Louis ranks the lowest.
Shift to full-time freelancing
The report also notes a shift towards full-time freelancing, with 71% of independent workers focusing exclusively on their freelance careers in 2023, up from 64% in 2022.
This trend is particularly pronounced among Gen Z and Millennial freelancers, who are increasingly moving away from permanent employment.
Freelancers are also found to be leveraging technology to enhance productivity. In 2023, 40% used AI tools, saving an average of 8.1 hours per week.
Additionally, 65% of freelancers engaged in upskilling activities, with many reporting significant positive impacts on their business and personal well-being.
Future outlook
Looking ahead, Fiverr expects the freelance workforce to continue growing, with many freelancers optimistic about their future earnings and the potential for further revenue increases.
As businesses increasingly rely on independent professionals, the freelance economy is set to remain a vital component of the U.S. labor market.
The report added, “Independent professionals continue to be an influential economic force,” underscoring the freelance community’s resilience and adaptability in navigating economic challenges and capitalizing on emerging opportunities.
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Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
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