2020 Q2 key findings
Freelancers expect the UK economy to deteriorate even further in the next year, with a 12-month UK economy index score of -53.4.
The coronavirus pandemic (81.1%) is now not only the top negative influence on freelancers’ businesses, but it is also selected as a top factor by all three freelancer occupational groups.
In Q2 2020, freelancers’ spare capacity reached an unprecedented record high of 5.5 weeks, increasing substantially since Q1 2020 when it was at 3.3 weeks.
The great decline in capacity utilisation alongside a slight fall in day rates led to a large 25 per cent drop in quarterly earnings from £20,821 in Q1 2020 to £15,709 in Q2 2020.