Retirement Planning

What the Independent Workforce Will Look Like in 2027

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America has seen a huge growth in the independent workforce and it continues to increase, according to MBO Partners. The company has the longest running study on the independent workforce and their newest report includes their predictions for what the independent workforce will look like in 2027. The report found 32 percent of the current private workforce, more than 40 million Americans, work as independent professionals and by 2027 that percentage will grow to 58 percent. Researchers predict independent workers will cycle in and out of traditional employment. People will go independent for all sorts of reasons — from wanting work-life balance to earning more income — but they will return to traditional jobs to learn new skills or advance their careers, and then will cycle back to independent as needed, such as retirement or after the birth of a child. The barbell effect will continue with large growth at both the low and high ends of the economic spectrum. On the low end independents will use platforms like Uber, but on the high-end independents can earn over six-figures. MBO Partners predicts AI and automation will be a big part of the workforce and many independents may find themselves working along with robots. Traditional retirement won’t be the goal. People will retire much later and may even continue to work well into their 80s as they pick up independent work.

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