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01 Oct 2015
53 million Americans, or 34% of the workforce, have become 1099 workers. The category covers the entire spectrum of freelancing, from independent contractors, to temps, and so on to occasional moonlighters. The quantity of 1099 contractors is anticipated growing by over 4% a year through 2020 to a number exceeding 66 million people. The trend is driven with a mix of new technology and age-old incentives. Freelancers are less costly for businesses who reduce payroll costs and benefit outlays, while staff are granted greater flexibility. A Roosevelt Institute/Kauffmann Foundation joint report argues that, by 2040, america economy will likely be "scarcely recognisable".interim

�The gig economy now makes up about another in the American...