Job stability a major concern for 92% of Filipino freelancers
About 92% of Filipino freelancers worry about job stability, according to a survey done by digital payment company PayPal. Nagesh Devata, general manager for PayPal Southeast Asia Cross-Border Trade, said job stability is one of the major challenges faced by freelancers as it is difficult for them to forecast their businesses while moving from one contract to the next. Devata said that globally the Philippines has one of the largest proportions of freelancers to total population, with 2% of its economy made up of freelancers. Aside from mentioning job stability as a key challenge, the PayPal study also highlighted the different methods that the estimated 1.5 million Filipino freelancers use to sustain their businesses. About 64% freelance for multiple clients, 54% build client relationships, 20% charge higher rates, and 14% invest in upskilling with additional training. PayPal conducted the survey in April to better understand the requirements of freelancers.
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