Payoneer Study Finds Freelance Workers Benefited from Surge in Demand and Increased Pay Amidst Ongoing Pandemic
January 31 2022 - 8:00AM
Business Wire
Payoneer’s 2022 Global Freelancer Income Report
reveals that the worldwide average hourly freelance rate has
increased nearly 40% compared to its previous edition in January
2020
Payoneer (NASDAQ: PAYO), the commerce technology company
powering payments and growth for the new global economy, today
issued the fourth edition of its Freelancer Income Report. The
report is based on a survey of 2,000 freelancers from over 100
countries and provides insight into how they have fared since the
start of the COVID-19 pandemic. While global unemployment reached
historic highs triggered by the pandemic, freelancers have
weathered the disruption relatively well. More than 30% of
respondents reported higher demand for their services since the
pandemic began, while 45% reported that demand stayed constant
without slowing. The fields of programming, marketing, and finance
showed the strongest growth.
The report’s findings include:
Significant Increase in Global Hourly Freelance Rate
Compared with the previous report two years ago, there has been an
increase in the average global hourly freelancing rate. Findings
show the global average hourly freelance rate is now $28,
significantly higher than the $21 average hourly rate reported in
the 2020 Global Freelancer Income Report. With 40% of freelancers
reporting that they are now charging more for their services than
they did at the start of the pandemic, and demand continuing to
rise, the opportunity for freelancers to succeed has never been
greater. Younger freelancers were the biggest benefactors,
reporting both an increase in hourly rates, and in demand.
Gender Pay Gap Persists, with a Silver Lining The report
highlights that the gender wage gap has unfortunately widened
slightly since 2020. While there has been an increased number of
women entering the world of freelancing, women freelancers’ pay
remains behind their male counterparts, with that gap growing over
the past two years. The gender pay gap amongst survey respondents
is most pronounced in North America, with women reporting earnings
of $37 per hour on average, compared to men who reported an average
of $52 per hour. Indeed, women reported earning less than men in
every region of the 100 countries surveyed apart from South
America, where women out-earn their male counterparts by $4/hour,
likely influenced by the higher paid industries that are more in
demand in these regions.
Freelancing Offers Greater Opportunities for Women As
confirmed by research from the World Economic Forum, the pandemic
has set back women’s progress in the global workforce overall, in
regard to both earnings and employment opportunities. However, one
of the more optimistic findings from Payoneer’s report is that
women’s participation in the freelance workforce continued to gain
momentum and increased from 24% in the 2020 Global Freelancer
Report to 29% in the 2022 report. Indeed, a less promising
employment market may have opened the door for more women to enter
the digital freelancing economy. In addition, women reported higher
levels of satisfaction than their male counterparts, revealing the
ongoing potential for freelancing to offer women an attractive
alternative to the traditional workforce.
“As the nature of the workforce becomes more fluid, more
businesses are realizing the value of a flexible resource they can
call upon when needed,” said Robert Clarkson, Chief Revenue Officer
at Payoneer. “At the same time, more workers are realizing that
freelancing is a career path which pays well, offers greater
flexibility and is open to skilled professions including finance,
marketing and programming. The freelance economy empowers
individuals from anywhere in the world to set their own hours,
rate, and work in roles that best suit their skill set, while
taking advantage of a variety of opportunities. We’re thrilled to
partner with these small businesses that are the backbone of the
global economy, and help them access the resources and tools they
need to realize their potential.”
For the full report, please download: The 2022 Freelancer Income
Report.
About Payoneer Payoneer (NASDAQ: PAYO) is the world’s
go-to partner for digital commerce, everywhere. From borderless
payments to boundless growth, Payoneer promises any business, in
any market, the technology, connections and confidence to
participate and flourish in the new global economy.
Since 2005, Payoneer has been imagining and engineering a truly
global ecosystem so the entire world can realize its potential.
Powering growth for customers ranging from aspiring entrepreneurs
in emerging markets to the world’s leading digital brands like
Airbnb, Amazon, Google, Upwork and Walmart, Payoneer offers a
universe of opportunities, open to you.
www.payoneer.com
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the safe-harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve a number of risks, uncertainties (some of which
are beyond Payoneer’s Control), and other assumptions which could
cause actual results or performance to differ materially from those
expressed or implied by such forward-looking statements. These
risks and uncertainties include, but are not limited to those
factors described in our filings with the Securities and Exchange
Commission, including those under “Risk Factors” therein. Should
one or more of these risks or uncertainties materialize, or should
any of the assumptions prove incorrect, actual results may vary in
material respects from those projected in these forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Payoneer does not undertakes any duty to update any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20220131005014/en/
Irina Marciano PR@Payoneer.com
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