Independent Contractor Outlook for 2020

The new estimates are that the coming year will see independent contractors making up half of the workforce. A contractors agency helps these 1099 workers find job opportunities often missing in other marketplaces. These contractors operate similarly but fall into five categories.

Moonlighters

These workers supplement their full-time job by moonlighting on the side. They are not as dependent on freelance work as others are.

Temporary

Temporary workers help fill gaps in employment or when someone is out. They typically work on something for less than six months.

Independent

Independent contractors take the lion’s share of the gig economy categories. As referenced on https://www.wwspi.com/, many of these 1099-workers choose to work as one. They may be temporary, full-time or part-time workers.

Owners

Freelance business owners make up only about 5% of the workers in the gig economy. They own their own businesses such as an accounting firm but also freelance to other firms.

Diversified

Diversified workers may operate as full-time employees who work as independent contractors and moonlighters. They create their incomes in a variety of ways by diversifying their work.

A contractors agency should be prepared to work with these various types of contractor categories. The agency can decide which ones to target to fill positions with their clients.