independent workforce

A snapshot of the knowmadic workforce

snapshot

In Knowmad Society, we noted that 45% of the workforce is trending to become knowmadic by the year 2020 — the freelancers, neo-nomads, self-employed, 1099 workers, contingent workers, contractors, etc. The Wall Street Journal published a story on a report by MBO Partners, a back-office support company for independent workers, with some interesting figures on the 17 million knowmadic workers in the US:

For the first time in three years of commissioning the annual survey, MBO found that Gen Xers—those from 34 to 49 years of age—comprise 36% of the independent workforce, the highest share of all age groups. The rest are baby boomers (33%, 50-67), millennials (20%, ages 21-34) and matures (11%, 68 and older). These so-called independents are just as likely to be male as female.

Also, of interest in the WSJ article: “One in seven workers polled by MBO said their decision to freelance came down to factors beyond their control.” And:

Sixty-four percent of independents rated their career satisfaction as 8 to 10 on a 10-point scale. That’s far better than the 30% of Americans overall who report being excited about their jobs, according to a recent Gallup poll.

Read the full WSJ story.