New data finds freelancers are optimistic as their work style becomes more common.

SCORE, the nation’s largest network of volunteer business mentors, gathered statistics on the growing freelance economy. What the group found is promising for both freelancers looking to continue in their fields, and for businesses looking to hire more freelancers! There’s both a growing supply and demand, it seems.

Based on SCORE’s research, 34 percent of the U.S. workforce is freelance—that’s 54 million people! These workers are also commonly referred to as independent contractors, consultants or entrepreneurs who earn at least some of their income through self-employment.

Many freelancers feel that today’s digital-friendly work environment is helping them thrive. About 69 percent say they feel the Internet and social media have expanded networking opportunities. Many noted that online talent marketplaces, mobile apps and co-working spaces allow them to contribute more efficiently.

The demographics of the freelance population is pretty diverse, too. Of the total freelance population:

• 30 percent are Millennials (age 21-34)
• 33 percent are from Generation X (age 35-50)
• 29 percent are Baby Boomers (age 51-68)z
• 8 percent are seniors (age 69+)

So what else could be contributing to the growing community? Many freelancers say there are quite a few perks to their jobs—the most popular being the freedom and flexibility that traditional desk and cubicle jobs just can’t offer, such as:

• 61 percent like controlling their own schedules
• 58 percent enjoy the flexibility
• 54 percent like being their own boss
• 48 percent like doing what they love
• 38 percent appreciate the extra income

While the data collection showed mostly positives for the freelancing community, it’s not without its obstacles. Freelancers often face higher taxes than salaried employees, because they are taxed as both an employee and an employer. Other top challenges that freelancers report include:

• Lack of steady income (50 percent)
• Trouble finding work (47 percent)
• Unpredictable payment schedule (31 percent)
• Uncertainty about what skills are in demand (23 percent)
• Trouble finding affordable benefits (21 percent)

Overall, freelancers report an optimistic perspective on the field, with 65 percent believing that freelancing is more respected now than it was four years ago, and 77 percent believing that the best days of the freelance job market are still ahead.