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Contract work embraced by younger generation

Posted on June 2nd, 2011 Read time: 1 minutes

According to the Bureau of Labor Statistics, 68 percent of hiring in 2010 was contract-based, DailyFinance reports. This statistic may indicate the increased importance of autonomy among Millennials – those born after 1981 – who feel that working independently is an important part of their career strategy.

A national survey conducted by outsourcing firm Elance found that 42 percent of the 350 Millennials surveyed preferred a freelance lifestyle and working with multiple clients over working for one employer full-time. Additionally, 19 percent of respondents who had full-time positions preferred to freelance on the side.

DailyFinance adds that independent contract workers now make up 30 percent of the nation's workforce, and that 90 percent of U.S. companies outsource work in some form.

Additional findings in the Elance survey point to an overall acceptance of contract-based work. 53 percent of respondents stated that they were happier in their work as a freelancers than as an employee, while 39 percent characterized their work style as contractor, compared to just 15 percent who responded employee.  

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