Quarantine sharply increased the demand for freelance services: the most popular areas

The coronavirus pandemic has wreaked havoc on the global labor market, leaving many people out of work through layoffs, furloughs or reduced hours as employers take sweeping cost-cutting measures. But one segment of the labor market has weathered this storm better than others: freelancers, writes CNBC.

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This segment of the labor market is seeing rising demand - even as full-time jobs have collapsed, says a new Fast 50 report. Job openings for freelancers increased by more than 25% between April and June 2020 - compared with the first three months of the year. The quarterly study tracks movements of the 50 fastest growing and declining jobs in the global market, which spans North America, Europe and Asia.

Growth reflects a change in the global job landscape after COVID-19 as employers overestimate budgets and choose a more flexible workforce. But it also indicates a growing interest among employees in independent work, said Freelancer project CEO Matt Barry.

“While COVID-19 was the trigger for the already growing freelance movement, this exponential growth can also be attributed to the high demand for people to finally start their own freelancing venture, work on their own terms and supplement their income " said Barry.

According to the report, the number of freelancer vacancies increased by 41% to 605 in the second quarter of 000 compared to the same period in 2020.

Meanwhile, in the first week of July, the UN International Labor Organization estimated that the number of hours lost in the second quarter of this year could be equivalent to 400 million full-time jobs.

“I foresee this crisis lasting into 2021 and there will be continued movement forward in both working from home and the use of freelance services in business,” Barry added.

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The fastest growing areas

According to the report, jobs in which employers had the highest demand growth in the second quarter were usually directly related to the pandemic.

Jobs related to mathematical modeling, including mathematical projects, Matlab projects and algorithms, showed the highest growth for the quarter: by 99,6% to 16 jobs. Positions in the statistical analysis also increased markedly, increasing by 501% to 75 jobs.

Most of this demand came from medical facilities, governments, enterprises, and media organizations, which increasingly require people to “interpret, analyze, and report” data on cases, hospitalizations, mortality rates, testing, and the impact of the pandemic.

The jump in the use of competitive trading platforms and investment platforms has also caused a demand for algorithmic projects.

Average project fees, according to Freelancer:

• Math - $203
• Game development – ​​$300
• E-commerce – $260

Barry said the growth coincides with the growing demand for math and skills related to algorithms. By 2028, demand for mathematicians and statisticians is expected to grow by 30% compared to 2018 levels, according to the U.S. Bureau of Labor Statistics. It says that the average annual salary for such jobs is $ 92, or $ 030 per hour.

Elsewhere, quarantine has sparked a demand for home entertainment and online shopping and, therefore, for workers with the appropriate skills. Demand for game designers and developers grew in the second quarter by 68% and 64% respectively, the number of vacancies for professionals in the field of electronic commerce increased by 54,4%.

At the other end of the spectrum, jobs that require direct contact with people, such as furniture assemblers, saw job openings plummet, down 35,6%.

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How to start freelance work

Although the labor market is likely to remain unpredictable for some time, Barry said that freelance work may be a suitable opportunity for some people to earn money and fulfill themselves. He shared his best tips for getting started:

1. Get to know yourself. Considering becoming a freelancer, take the time to figure out if this work style is right for your personality.
2. Conduct reconnaissance on the ground. One way to see if the job is right for you is to try a few separate tasks or projects while maintaining other sources of income.
3. Build your brand. When you're ready to go freelance, take the time to fill out your online profile or portfolio so people can easily see your past work.
4. Continue to upgrade your skills. Keep your skills up to date with free online resources on sites like edX, Udemy, and Coursera.
5. Know your value. Find out the market value of your services and adjust your costs according to capabilities.

“It's really important these days to find your niche—an area where you bring something extra to the job, be it skills, subject matter experience, industry connections, or even just great tasks done, communication, a positive attitude, and great customer service.” , said Barry.

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