Freelancer.com (ASX: FLN), the world’s largest freelancing and crowdsourcing marketplace by number of users and jobs posted, today released the Freelancer.com Fast 50 Report for Q3 2020.
The quarterly index which measures the most sought-after employment skills showed the freelancing industry continues to thrive in the current economic climate. The figures from Freelancer.com revealed a 14% increase in jobs posted year over year, when comparing Q3 2020 versus Q3 2019, with the total number rising to 539,000 from 465,000.
In terms of the most in demand skills, key takeaways from the Q3 2020 Fast 50 Report compared to the Q2 2020 Fast 50 Report:
As COVID-19 forced more people online, entrepreneurs focused on eCommerce startups
With more people at home sparking a major increase in online shopping, entrepreneurs flocked to starting eCommerce businesses. Web and app development projects related to Website Build, Testing, and Management, Digital Marketing, as well as software and coding skills with Flutter, React.js, Vue.js, Node.js, React Native and CSS3 went up in the quarter, up 9% to 28,593 jobs. Design projects related to T-Shirts, Posters and Brochures, to Photoshop, Photo Editing and Creative Design, and even Interior Design, went up in the quarter 6% to 38,877 jobs. To reinforce the upticks in the third quarter, Sales & Marketing related jobs subsequently were on the up, rising 17% to 2,153 jobs.
Home remodeling booms during pandemic
Home organization hacks became even more popular during quarantine and consumers cleaned out shelves of storage containers and the like. Sheltering at home also influenced the increase in demand for Home Design which saw a rise of 17% to 1,579 jobs in the third quarter. Remodeling platform Porch.com also recently reported that more than three-quarters of all U.S. homeowners had done some type of home improvement project during the pandemic.
COVID-19 highlighted the importance of translation services
The biggest increase in demand in the third quarter was for translation services – this is most likely attributed to a much larger online audience since COVID-19, prompting businesses to boost their marketing efforts to reach new markets with information in various languages.
Projects related to Translation & Languages took off in the quarter up 20% to 6,043 jobs. Furthermore, as the majority of workers have moved online full-time, there is more demand for English content for communications including, sales and promotions, marketing and social media, and websites and blogs.
With restrictions starting to ease, demand for local services picks up
Lockdowns last quarter saw the demand for local services collapse – this quarter, as restrictions around the world started to ease, Local Jobs & Services picked up again, increasing 15% to 1,325 jobs.
Matt Barrie, CEO and Chairman of Freelancer.com, said, “Despite global economic activity falling in 2020 and unemployment continuing to climb, the freelance online job market has continued to grow. In this COVID-era, the whole world has been forced to work online – we completely rely on the Internet, hence we are seeing a lot more online projects and becoming accustomed to this new normal.
“As the skilled labor pool around the world has significantly increased over the past six months, many workers who found themselves jobless have turned to freelancing to supplement their income. Freelancer.com has seen an upsurge in users on the platform since early March with around 35,000 new users, globally, per day signing up. Many people are either looking for jobs or looking to transition out of jobs. Budding entrepreneurs who have found themselves out of their full-time gigs are setting up their startup or side hustle.”
While the world is starting to experience a slow recovery, the recession is far from over. The overall trend for jobless claims in the US remains high, reported to still be over 800,000. With stimulus benefits expiring and the unemployment rate at an all time high, Freelancer.com continues to see an increase in users joining the platform to boost their personal income.
In the UK, the categories which saw the biggest increases in jobs posted during third quarter included: Websites, IT & Software (up 22%), Local Jobs & Services (up 20%), Data Entry & Admin (up 14%), and Writing & Content (up 9%).
The Freelancer.com Fast 50 Report tracks the quarterly movement of the top 50 fastest growing and declining jobs on the site’s global online marketplace that spans 247 countries, regions, and territories. The Fast 50 Report is the leading indicator of trends in online jobs related to industries, technologies, products, and companies.
Freelancer.com is the largest freelancing and crowdsourcing platform in the world by number of users and jobs posted, connecting users with skilled jobs tapping into the best talent and ideas. With headquarters in Sydney, Freelancer.com operates six global offices in San Francisco, London, Vancouver, Manila and Buenos Aires. The company employees 500 people globally.
Battling Covid collateral damage, Renault says 2021 will be volatile
By Gilles Guillaume
PARIS (Reuters) – Renault said on Friday it is still fighting the lingering effects of the COVID-19 pandemic, including a shortage of semiconductor chips, that could make for another rough year for the French carmaker.
Renault reported an 8 billion euro ($9.7 billion) loss for 2020 which, combined with gloomy take on the market, sent its shares down more than 5% in late morning trading.
“We are in the midst of a battle to try to manage a difficult year in terms of supply chains, of components,” Chief Executive Luca de Meo told reporters. “This is all the collateral damage of the Covid pandemic… we will have a fairly volatile year.”
De Meo, who took over last July, is looking at ways to boost profitability and sales at Renault while pushing ahead with cost cuts. There were early signs of improving momentum as margins inched up in the second half of 2020.
The group gave no financial guidance for this year, although it said it might reach a target of achieving 2 billion euros in costs cuts by 2023 ahead of time, possibly by December.
Executives said they were confident the carmaker could be profitable in the second half of 2021, but that they lacked sufficient market visibility to provide a forecast.
Renault struck a cautious note, saying it was focused on its recovery but warned orders had faltered in early 2021 as pandemic restrictions continued in some countries.
The group is facing new challenges as the European Union tightens emissions regulations and after rivals PSA and Fiat Chrysler joined forces to create Stellantis, the world’s fourth-biggest automaker.
The auto industry endured a tough 2020 but a swift rebound in premium car sales in China helped companies such as Volkswagen and Daimler to weather the storm.
Auto companies globally have since been hit by a shortage of semiconductors that has forced production cuts worldwide.
“The beginning of the year has shown some signs of weakness,” De Meo told analysts, but added the chip shortage should be resolved by the second half of 2021. “We have taken the necessary measures to anticipate and overcome challenges.”
Renault estimated the chip shortage could reduce its production by about 100,000 vehicles this year.
The group was already loss-making in 2019, but took a sharp hit in 2020 during lockdowns to fight the pandemic, which also hurt its Japanese partner Nissan.
Analysts polled by Refinitiv had expected a 7.4 billion euro loss for 2020. The group posted negative free cash flow for 2020.
The 2018 arrest of Carlos Ghosn, who formerly lead the alliance between Renault and Nissan, plunged the automakers into turmoil.
In a further sign that the companies have been working to repair the alliance, De Meo told journalists that Renault and Nissan will announce new joint products together in the coming weeks or months.
Renault has begun to raise prices on some car models, and group operating profit, which was negative for 2020 as a whole, improved in the last six months of the year, reaching 866 million euros or 3.5% of revenue.
Analysts at Jefferies said the operating performance was better than expected. Sales were still falling in the second half, but less sharply.
Renault is slashing jobs and trimming its range of cars, allowing it to slice spending in areas like research and development as it focuses on redressing its finances. It is also pivoting more towards electric cars as part of its revamp.
It was already struggling more than some rivals with sliding sales before the pandemic, after years of a vast expansion drive it is now trying to rein in, focusing on profitable markets.
De Meo told journalists on Friday that the French carmaker will make three new higher-margin models at its Palencia plant in Spain, where manufacturing costs are lower, between 2022 and 2024.
($1 = 0.8269 euros)
(Reporting by Gilles Guillaume and Sarah White in Paris, Nick Carey in London; Editing by Christopher Cushing, David Evans and Jan Harvey)
UK delays review of business rates tax until autumn
LONDON (Reuters) – Britain’s finance ministry said it would delay publication of its review of business rates – a tax paid by companies based on the value of the property they occupy – until the autumn when the economic outlook should be clearer.
Many companies are demanding reductions in their business rates to help them compete with online retailers.
“Due to the ongoing and wide-ranging impacts of the pandemic and economic uncertainty, the government said the review’s final report would be released later in the year when there is more clarity on the long-term state of the economy and the public finances,” the ministry said.
Finance minister Rishi Sunak has granted a temporary business rates exemption to companies in the retail, hospitality, and leisure sectors, costing over 10 billion pounds ($14 billion). Sunak is due to announce his next round of support measures for the economy on March 3.
($1 = 0.7152 pounds)
(Writing by William Schomberg, editing by David Milliken)
Discounter Pepco has all of Europe in its sights
By James Davey
LONDON (Reuters) – Pepco Group, which owns British discount retailer Poundland, has targeted 400 store openings across Europe in its 2020-21 financial year as it expands its PEPCO brand beyond central and eastern Europe, its boss said on Friday.
The group opened a net 327 new stores in its 2019-20 year, taking the total to 3,021 in 15 countries. The PEPCO brand entered western Europe for the first time with openings in Italy and it plans its first foray into Spain in April or May.
Chief Executive Andy Bond said its five stores in Italy have traded “super well” so far.
“That’s given us a lot of confidence that we can now start building PEPCO into western Europe and that expands our market opportunity from roughly 100 million people (in central and eastern Europe) to roughly 500 million people,” he told Reuters.
To further illustrate the brand’s potential he noted that the group has more than 1,000 PEPCO shops in Poland, which has a significantly smaller population and gross domestic product than Italy or Spain.
The company, which also owns the Dealz brand in Europe but does not trade online, has already opened more than 100 of the targeted 400 new stores this financial year.
Pepco Group is part of South African conglomerate Steinhoff, which is still battling the fallout of a 2017 accounting scandal.
Since 2019 Steinhoff and its creditors have been evaluating a range of strategic options for Pepco Group, including a potential public listing, private equity sale or trade sale.
That process was delayed by the pandemic, but Steinhoff said last month that it had resumed.
“The business will be up for sale at the right time. It’s a case of when, rather than if,” said Bond, a former boss of British supermarket chain Asda.
Pepco Group on Friday reported a 31% drop in full-year core earnings, citing temporary coronavirus-related store closures.
Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) were 229 million euros ($277 million) for the year to Sept. 30, against 331 million euros the previous year.
Sales rose 3% to 3.5 billion euros, reflecting new store openings.
($1 = 0.8279 euros)
(Reporting by James Davey; Editing by David Goodman)
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