One of findings that most surprised us when we first started researching independent workers was how many think independent work is more secure than traditional jobs.
Back in 2011 when we first starting asking about this in surveys, we assumed the vast majority of independent workers would view self-employment as being less secure than having a traditional job.
But as the chart below shows (the data is from the MBO Partners State of Independence study series), we were wrong.
In 2018 49% of full-time independent workers feel working independently is more secure than having a traditional job. This is up from 41% in 2012.
There are several reasons about half of independents feel independent work is more secure.
The main reason given by independents is having multiple sources of income and/or customers provides more security than having a single employer.
Independents also point out that being charge of their work lives makes them more able to adjust to changing economic conditions, which makes them more secure.
They also say traditional jobs are no longer as secure as they once were, making independent work relatively more secure.
The data is trending up for several reasons.
First, the improving economy has made it easier for independent workers to find work. This is particularity true for independent workers with sought after skills and experience.
The strong economy is also allowing reluctant independent workers - those that would prefer a traditional job- to go back to traditional jobs.
Reluctants, on average, report feeling independent work is much less secure than traditional employment. So as they leave independent work, it raises the share of independents who feel more secure working independently.
The growing infrastructure of products and services that make being an independent easier is also making independent work more secure.
These include low-cost, Internet-based tools and services for everything from billing and project management to marketing and sales. It also includes things like the ACA (Obamacare), which makes it easier for independents to get health insurance.
But being independent is still not secure enough, especially for those without in-demand skills. We'll have more on this topic in the near future.
We contribute to the MBO Partners State of Independence report series.
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