Why more Americans will choose gig work over traditional jobs by 2024

Many Americans no longer want traditional jobs and are turning to gig work or freelance roles. Unlike traditional jobs that operate with set schedules and pay structures, freelancing gives you more control over your schedule, workload, and income potential.

Although these types of jobs aren’t for everyone, more Americans are leaving the traditional workforce. Here are some reasons why more people will change careers and opt for full-time employment in 2024:

Workers value work-life balance.

In most traditional jobs, employees have little control over their schedules and workload. For some employees, work life spills over into leisure time. They may be expected to respond to emails or come to work in the evening. Being constantly in work mode can make it difficult to enjoy your free time and at least spend some quality time with your friends and family.

Some workers have had enough and want complete control over their personal and work schedules. For this reason, many people choose to freelance or take on gig work, making it a priority to spend more time with their families. It may be easier to schedule your work around doctor’s appointments, family events, your children’s school, or sports commitments if you do it yourself.

There is greater room for income increase

As a contract worker or small business owner, you are responsible for finding many jobs to earn enough money to pay your bills. To make money, you have to work. However, many people choose gig work to have more control over their income.

Many traditional employees earn a set income and have little room to increase their income unless they are paid overtime or receive a raise. As a freelancer or gig worker, you have control over your earning potential. If you have previously worked in a low-income role, this can be a liberating feeling.

You can make more money by prioritizing higher-paying jobs, working longer hours, or working when opportunities to make more money are available. If you’re not satisfied with your current salary and want to increase your income, gigs can help you achieve your goals.

They are having trouble finding full-time jobs.

Many workers who have lost their jobs are having difficulty finding full-time employment. The company is hiring, but competition is fierce as many people are applying for the same role.

Some workers qualify for unemployment benefits, but today’s high cost of living makes it difficult to get by on benefits that are a fraction of what they previously received. For people who don’t have an emergency fund, gig work can help you earn the money you need while looking for work.

You can pursue something more meaningful.

Many freelancers prefer contract work over traditional jobs because they have more freedom to choose what they do. There are now more opportunities to find projects of personal interest. For others, performing provides an opportunity to explore new industries.

Because you have limited experience outside of your current role or company, it may be more difficult to transition to a full-time position in a completely different industry. But Gig Work can make it possible. The more control you have over your daily workload, the more rewarding it can be.

Don’t overlook gig work

If you’re looking to boost your bank account balance by taking on extra work in your free time, or if you’re looking to transition into a more flexible career, keep an eye out for gigs and freelancing opportunities. But think about how changes like this will affect your personal finances.

You should investigate self-employment taxes and the additional costs associated with being a gig worker, and consider ways to replace any employer-sponsored benefits you currently have, such as health insurance. Building a solid emergency fund before making a life-changing career change like this is a great way to prepare financially.

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