Does freelancing have a future? Mathematical analysis and modeling

Abstract

During the past few years, freelancing has grown exponentially due to the pandemic and subsequent economical changes in the world. In fact, in the last ten years, a drastic increase in freelancing has been observed; people quit their jobs to be their own boss. There are various reasons for this: downsizing of employees, not having fun in their jobs, unemployment, part time work to earn more, etc. Observing this vast change, many individuals on Facebook/YouTube, NGOs, and government departments started teaching freelancing as a course; to date, thousands of youngsters have been trained to start their careers as freelancers. It has been observed that the ratio of informed freelancers is more successful than those who start their careers independently. We construct a compartmental model to explore the influence of information on the expansion of freelancing in this article, which was motivated by this surge in freelancing. Following that, the model is subjected to dynamical analysis utilizing dynamical systems and differential equation theory. To validate our analytical conclusions, we used numerical simulation.