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Upwork:Quarterly Results/2023 Q1: Difference between revisions
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== Other Insights == | == Other Insights == | ||
=== Bullish === | |||
* Impact of AI on the industry seems to be a tailwind at the moment<ref>https://s3.amazonaws.com/press.freelancer.com/Freelancer%20Fast%2050%20Q1%202023%20Index%20-%20Freelance%20Creative%20Jobs%20Thrive%20Despite%20AI%20Surge.pdf</ref>. | |||
* There is an uptick in new business formations in U. S. New business formations increased 4.5% M/M in March to 451,752<ref>https://www.census.gov/econ/bfs/current/index.html</ref>.Around 80% of Upwork's GSV is generated from small and medium-sized businesses (employers with a headcount of less than 100).<ref>https://investors.upwork.com/static-files/d4ef2d59-4aaa-45f9-909e-8638164f88da</ref> | |||
=== Bearish === | |||
* There is a pullback on tech freelance jobs. Freelancer.com Q1 2023 report indicates that Software development jobs declined by 34.4% Q/Q to 1,311 from 2,001.Similarly, Programming jobs declined by 20.9% Q/Q to 4,665<ref>https://s3.amazonaws.com/press.freelancer.com/Freelancer%20Fast%2050%20Q1%202023%20Index%20-%20Freelance%20Creative%20Jobs%20Thrive%20Despite%20AI%20Surge.pdf</ref>. | * There is a pullback on tech freelance jobs. Freelancer.com Q1 2023 report indicates that Software development jobs declined by 34.4% Q/Q to 1,311 from 2,001.Similarly, Programming jobs declined by 20.9% Q/Q to 4,665<ref>https://s3.amazonaws.com/press.freelancer.com/Freelancer%20Fast%2050%20Q1%202023%20Index%20-%20Freelance%20Creative%20Jobs%20Thrive%20Despite%20AI%20Surge.pdf</ref>. | ||
* There is a pullback on remote hiring<ref>https://www.youtube.com/watch?v=SbNq0VY9EKc</ref>. | * There is a pullback on remote hiring<ref>https://www.youtube.com/watch?v=SbNq0VY9EKc</ref>. | ||
== Analysts Commentaries == | == Analysts Commentaries == | ||