The 6th Annual MBO Partners State of Independence study maps the attitudes and sentiments of a large, multi-faceted and economically powerful segment of the American workforce. Independents are adult Americans of all ages, skill, and income levels who turn to consulting, freelancing, contract work, temporary assignments or on-call work regularly each week for income, opportunity and satisfaction.
The MBO Partners State of Independence report is the industry’s longest running end-to-end study of the American Independent workforce. This year, it found that the robust, maturing, and vital independent job market continues to be driven by powerful cyclical and structural forces. Against the backdrop of 5% unemployment, 5.8 million job openings, and an economy that added 2.74 million payroll jobs in the past year, the total number of self-employed (full- and part-time combined) aged 21 over in 2016 remained close to 40 million.
The number of full-time independents fell by 5%, or 800,000, to 16.9 million. With a robust payroll jobs market, it is clear that some of those who were not satisfied with independent work returned to traditional employment. The number of people working part-time in independent work (fewer than 15 hours per week) remained steady at 12.4 million.
Two thirds, or 65 percent of the independent workforce rate their job satisfaction at least an 8 out of 10, and a full 22 percent rate it a solid 10.
Access the full report here.