As the crippling economy brings a wave of unemployment in the country, most Pakistanis are opting to pursue freelance work.
A large number of population under the age of 35 opt for freelancing. A report titled ‘Freelancer Income Report 2020’ was released by the digital payment company Payoneer recently claiming that the acquired data was more than the average of 70 percent worldwide. The findings were based on a survey of more than 7,000 freelancers living in 150 countries, including Pakistan.
Payoneer says people opt for freelance mainly because of income satisfaction.
The benefits range from chances of greater job opportunity, self-sufficiency, higher income, and a favorable step in the path to good wage quality.
Several people opt for web and graphic design in freelancing fields out of others, the report says and eighty-one percent of freelancers say they rather work from home.
Payoneer’s country manager, Mohsin Muzaffer, spoke to a media source highlighting that this involvement from the youth is beneficial to the country and its economic prospects.
“More people now consider freelancing as a full-time career as opposed to a part-time gig, which is a big shift to positivity. This also means an increased landscape of opportunity for our youth and the overall impact on digital Pakistan,” he added.
This form of a gig economy driven by social media, global marketing and online payment platforms gave the workforce means of creating a career path of their own. Skills acquired from freelancing eventually help build a full-time career or extend it after retirement.
“The freelancing economy has grown exponentially over the past decade, and I believe we can now firmly say that the future of work has arrived. Obstacles that could slow or hinder freelancers’ ability to grow, connect and be successful have been removed,” said Scott Galit, Payoneer CEO.
People younger than the age of 35 were found to be in the freelance workforce, according to the report. 21 per cent were under the age of 25. Overall in Asia, 82 percent of respondents were under 35.
Higher salary was also among the reasons for the popularity in freelancing.
One of the positive findings of the report spelled out female participation gaining leverage and the average wage for females surpassed that of the greater workforce. Female freelancers earned more than average 84 per cent of men’s earnings in every field. The gender gap in freelance is much smaller than 64 per cent average of the workforce as confirmed by the World Economic Forum.
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Women dominate marketing, web and graphic design and earn more than men in these respective fields.
Growing generational shifts particularly the millennial and Gen Z demographic strive for independence and excellent job opportunities. This allows developing countries at best a chance to broaden their horizons in the realm of progress, both personally and professionally.