Freelancers experience drop in income

14 Aug 2020

Freelancers experienced a drop in income during the coronavirus (COVID-19) lockdown, according to research published by the Association of Independent Professionals and the Self-Employed (IPSE).

The research showed an average drop of 25% during the second quarter of this year.

The drop in income was driven by a record fall in the average number of weeks freelancers worked this quarter. Between March and June, the average freelancer went five and a half weeks out of 13 without work.

This, combined with a 3% fall in freelancers' average day rates, lead to a decline in average quarterly earnings from £20,821 in the first quarter of 2020 to £15,709 in the second quarter.

Inna Yordanova, Senior Researcher at IPSE, said: 'It's been clear for some time that the economic impact of coronavirus has fallen particularly hard on freelancers.

'Freelancers are a vital and extremely productive part of the workforce who have historically always been essential to recovery from economic depressions. If they are to play this crucial role, however, the government must make sure that in the event of a second wave, all freelancers have the support they need. Otherwise, going through another full lockdown and the resultant slump in work and income could be utterly devastating for them.'

The Chancellor has recently announced changes to the governments job support scheme that will be introduced in Nove… https://t.co/aPWA11OXjU

1 days ago

@ThompsonJenner

With so many changes in recent weeks it's important to make sure you are fully up to date with the latest help and… https://t.co/0Goa7IqMKM

15 days ago

@ThompsonJenner

Fantastic to see ExIST_Exeter hosting this Free Virtual Event about the Space Sector...it's tomorrow at 11am. Don'… https://t.co/odPd77Clxs

20 days ago

@ThompsonJenner

Last week the Chancellor announced an extension to the Self Employment Income Support Scheme...but what does it act… https://t.co/D0kHGzC41Z

28 days ago

@ThompsonJenner

Subscribe to our mailing list

* indicates required