The U.S. has reached a record high of layoffs in 2025, with over 806,000 such events already recorded. Many well-known tech companies are reducing their workforce in response to government policy changes and the impact of AI. As traditional employment declines, the freelance market is predicted to grow significantly, potentially reaching $14.39 billion by 2030. By 2027, more than half of the U.S. workforce is expected to consist of freelancers. This shift necessitates a focus on side hustles and freelance careers as viable income sources.
The U.S. has experienced unprecedented layoffs in 2025, surpassing 806,000 already, signaling a drastic shift away from job security that characterized past decades.
As traditional employment wanes, the global freelance market is projected to expand from $5.58 billion in 2024 to $14.39 billion by 2030, driven by the rise of independent contractors.
Freelance professionals are expected to outnumber traditional employees, with projections indicating that 86.5 million freelancers will make up the majority of the U.S. workforce by 2027.
With many companies cutting jobs due to government policies and AI, the workforce is turning towards side hustles and portfolio careers as alternative sources of income.
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