Freelancer.com (ASX: FLN), the world's largest freelancing and crowdsourcing marketplace, has released its quarterly Fast 50 Index for Q2 2024, derived from data on 251,000 jobs posted to the platform. The report indicates a significant growth in freelance jobs, particularly in computer security and business services, despite the increasing prevalence of AI tools.
Computer Security has emerged as the fastest-growing freelance skill, with a 27.1% increase in job postings from 868 to 1,103 jobs. This trend underscores the rising demand for cybersecurity expertise, especially among small-to-medium businesses (SMBs) that often lack in-house security capabilities. The need for network security, security assessments, and cyber security response playbooks has driven many SMBs to hire freelancers.
Interestingly, the data shows that generative AI tools have not negatively impacted freelance job growth in sectors like writing, business services, and legal skills. Contrary to expectations, these fields have seen substantial growth. PDF writing jobs increased by 26.7%, Microsoft Word projects by 23.9%, and Copy Typing by 11.6%. Legal jobs also saw a rise, with general legal work up by 12% and Legal Research growing by 10.8%.
Freelancer.com's annual AI survey, which polled over 4,100 workers globally, revealed that more than half of the workers (52.5%) reported earning the same or more since the introduction of AI tools. About 19.2% of respondents noted a significant increase in their earnings, while only 17.7% reported a decline. Matt Barrie, Chief Executive at Freelancer.com, stated, "AI is creating more jobs than it takes. The data shows that freelance jobs labeled as 'most at risk to AI disruption' are in fact growing."
General business services have also seen a rise on the platform. Market Research and Telemarketing jobs ranked as the fourth and fifth fastest-growing skills in Q2 2024, increasing by 21.1% and 19.4%, respectively. Businesses are increasingly turning to freelancers for sales, lead generation, and business plans, with these categories growing by 15.5%, 12.2%, and 10.9%, respectively.
In contrast, eCommerce-related jobs saw a decline in Q2 2024, attributed mainly to seasonality. Shopify Templates fell by 13%, CSS by 11.8%, and both WooCommerce and Shopify jobs also experienced declines. This trend is typically seen as entrepreneurs set up their businesses early in the year and later pivot to hiring freelancers for other business services or manage their operations independently.
Graphic Design remains the most popular online freelancing job by volume, followed by PHP programming, Photoshop, Website Design, and HTML programming. These skills are recommended for new freelancers looking to enter the market.
One notable trend is the rapid growth in Electronic Repairs, which ranked 19th among the top 25 fastest-growing jobs in Q2 2024, with a 10.7% increase. Year-over-year, this category surged by 162%, highlighting the growing demand for in-person electronic repair services facilitated by Freelancer.com's Global Fleet Program.
The Fast 50 index serves as a significant indicator of trends in online jobs, reflecting shifts in industry demands and technological impacts. As businesses and freelancers adapt to changing landscapes, the growth in freelance opportunities across diverse sectors suggests a resilient and evolving job market.
