A few weeks ago we reported on the trends that are leading to more workers being on fixed term contracts, which means employment relationships with their employer that terminate after a specific period of time.
A new study by the Freelancers Union and Elance-oDesk adds more information on this type of work. According to their Freelancing in America study, 5.5 million Americans work under fixed term contracts, which they describe as:
Temporary workers: Individuals with a single employer, client, job, or contract project where their employment status is temporary. For example, a business strategy consultant working for one startup client on a contract basis for a months-long project.
People working on fixed term contracts are mostly counted as traditional employees in government statistics.
But these people know they aren't traditional employees. In interviews they self-describe as independent workers who move from gig to gig. Because of this, we include them as independent workers in our studies.
This group is an example of the growing number of people dealing with increased economic uncertainty due to a lack of job security. This is one of the key forces leading to The New Entrepreneurial Mindset.