Upwork Inc. Launches Monthly Hiring Report Highlighting Trends in the Freelance Economy and Demand for Human-Centric Skills

Upwork's report highlights rising demand for freelance human-centric skills, signaling shifts in the U.S. labor market.

Quiver AI Summary

Upwork Inc. has launched its inaugural Monthly Hiring Report, analyzing trends in the freelance economy to provide insights into labor market shifts in the U.S. The August 2025 report indicates a growing demand for human-centric skills like fact-checking and video editing, with high-value work among large businesses increasing by 31%. Despite a cooling job market, small and medium-sized businesses saw a 40% rise in hiring for AI and machine learning skills, suggesting they are using freelance talent to innovate and adapt. The report highlights a proactive approach to talent acquisition, as companies leverage freelance experts to address workforce gaps and enhance efficiency. Key insights reveal that AI is amplifying the need for human talent, especially in traditionally vulnerable sectors like writing and content creation. The Monthly Hiring Report aims to shed light on real-time hiring trends, helping business leaders understand how to engage flexible talent in the evolving job landscape.

Potential Positives

Upwork’s inaugural Monthly Hiring Report provides valuable insights into the freelance economy, showcasing the company as a thought leader in labor market trends and analytics.
The report highlights a significant 31% growth in high-value work among large businesses, indicating an increased reliance on Upwork's platform for accessing specialized freelance talent.
There is a notable 40% increase in demand for AI and machine learning skills among small and medium-sized businesses, underscoring Upwork's relevance in supporting businesses transitioning to an AI-driven environment.
The findings underscore the emergence of human-AI collaboration, positioning Upwork as a key player in the shifting landscape of work where human expertise remains essential despite the rise of AI technologies.

Potential Negatives

Despite their focus on the freelance economy's growth, the press release indirectly indicates challenges in the overall labor market, which may raise concerns about economic stability.
The mention of a "cooling job market" alongside the positives of flexible talent usage may create skepticism about the true state of employment and economic recovery.
The press release emphasizes increasing demand for AI-related skills, which could imply potential job displacement for traditional roles, raising concerns about the future of certain job sectors.

FAQ

What is the purpose of the Upwork Monthly Hiring Report?

The report aims to provide insights into hiring trends in the freelance economy and signal shifts in the U.S. labor market.

What skills are currently in high demand according to the August report?

Demand for skills like AI, fact-checking, and video editing has significantly increased, driving business growth.

How does the freelance economy affect the overall labor market?

The freelance economy serves as a leading indicator, showing how businesses innovate and adapt in the labor market.

What shift is observed in large businesses’ hiring practices?

Large businesses have seen a 31% growth in high-value work, leveraging flexible talent for strategic workforce needs.

How are AI and human skills evolving in the freelance market?

AI is creating demand for human expertise in higher-value tasks, highlighting the importance of human-AI collaboration.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$UPWK Insider Trading Activity

$UPWK insiders have traded $UPWK stock on the open market 41 times in the past 6 months. Of those trades, 0 have been purchases and 41 have been sales.

Here’s a breakdown of recent trading of $UPWK stock by insiders over the last 6 months:

THOMAS LAYTON has made 0 purchases and 2 sales selling 500,000 shares for an estimated $8,746,450.
HAYDEN BROWN (President & CEO) has made 0 purchases and 12 sales selling 324,806 shares for an estimated $4,916,753.
ELIZABETH A NELSON sold 60,000 shares for an estimated $1,045,572
ERICA GESSERT (Chief Financial Officer) has made 0 purchases and 4 sales selling 52,296 shares for an estimated $770,828.
DAVE BOTTOMS (GM, Marketplace) has made 0 purchases and 8 sales selling 42,385 shares for an estimated $579,775.
OLIVIER MARIE (Chief Accounting Officer) has made 0 purchases and 12 sales selling 18,169 shares for an estimated $264,818.
LEELA SRINIVASAN has made 0 purchases and 2 sales selling 9,834 shares for an estimated $149,748.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$UPWK Hedge Fund Activity

We have seen 150 institutional investors add shares of $UPWK stock to their portfolio, and 167 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

DORSEY ASSET MANAGEMENT, LLC removed 3,045,142 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $39,739,103
T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 2,900,436 shares (-62.2%) from their portfolio in Q2 2025, for an estimated $38,981,859
FMR LLC removed 2,326,784 shares (-99.5%) from their portfolio in Q2 2025, for an estimated $31,271,976
PRICE T ROWE ASSOCIATES INC /MD/ removed 1,785,022 shares (-11.8%) from their portfolio in Q2 2025, for an estimated $23,990,695
MORGAN STANLEY added 1,623,488 shares (+52.5%) to their portfolio in Q2 2025, for an estimated $21,819,678
CONTOUR ASSET MANAGEMENT LLC removed 1,506,610 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $19,661,260
ALLIANZ ASSET MANAGEMENT GMBH removed 1,275,988 shares (-57.0%) from their portfolio in Q2 2025, for an estimated $17,149,278

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$UPWK Analyst Ratings

Wall Street analysts have issued reports on $UPWK in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

JMP Securities issued a "Market Outperform" rating on 05/16/2025
Needham issued a "Buy" rating on 05/06/2025
Jefferies issued a "Buy" rating on 04/07/2025
Citizens Capital Markets issued a "Market Outperform" rating on 03/10/2025

To track analyst ratings and price targets for $UPWK, check out Quiver Quantitative's $UPWK forecast page.

$UPWK Price Targets

Multiple analysts have issued price targets for $UPWK recently. We have seen 7 analysts offer price targets for $UPWK in the last 6 months, with a median target of $18.0.

Here are some recent targets:

Brad Erickson from RBC Capital set a target price of $18.0 on 06/02/2025
Matthew Condon from JMP Securities set a target price of $20.0 on 05/16/2025
Ronald Josey from Citigroup set a target price of $18.0 on 05/06/2025
Bernie McTernan from Needham set a target price of $19.0 on 05/06/2025
Brent Thill from Jefferies set a target price of $20.0 on 04/07/2025
Nat Schindler from Scotiabank set a target price of $15.0 on 03/12/2025
Andrew Boone from Citizens Capital Markets set a target price of $18.0 on 03/10/2025

Full Release

Inaugural monthly analysis of the freelance economy provides an early signal of U.S. labor market shifts, revealing how businesses are engaging flexible talent

August analysis shows demand for human-centric skills like fact-checking and video editing is on the rise

PALO ALTO, Calif., Sept. 02, 2025 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK), the world’s human and AI-powered work marketplace, today announced a new monthly analysis of hiring trends in the freelance economy, revealing demand for the specific skills driving business growth. The report illuminates real-time trends signaling how business leaders are hiring and aims to provide a more comprehensive picture of hiring in the U.S. labor market by focusing on the freelance economy – a vibrant sector of the workforce that generates an estimated $1.5 trillion in earnings annually. ¹ It draws upon data from more than 1 million jobs posted annually in the U.S. on Upwork and a new monthly business pulse survey from the Upwork Research Institute .

“Traditional data sources often show us where the labor market has been, but they overlook the part of the economy that shows us where it's going,” said Dr. Kelly Monahan, managing director of the Upwork Research Institute. “The freelance economy is a leading indicator for the broader labor market because it’s where businesses turn first to innovate and adapt. Our new Upwork Monthly Hiring Report taps directly into this real-time signal, providing a forward-looking, comprehensive view of how companies are using flexible talent to succeed in the age of AI.”

Top 3 Hiring Insights: August 2025

High-value work among large businesses grew 31% as companies use flexible talent to fill key gaps and drive growth. ²
Despite a softer overall labor market, companies are strategically leveraging flexible talent to address temporary gaps in the workforce, access advanced technical skills, and scale resources. ³ This is most evident among large businesses, which saw 31% growth in high-value work (contracts greater than $1,000) on Upwork. ² Of note, one in four business leaders hired a freelancer to access advanced technical skills in August; ³ and across customer segments, business leaders cited talent acquisition and retention as their top priority, ³ signaling a proactive investment in their workforces to prepare for future growth.

Demand for AI and machine learning skills is up 40% among small and medium-sized businesses (SMBs). ²
While broader economic reports point to a cooling job market, demand among SMBs for skills in AI and Machine Learning saw a notable 40% uptick in August, ² while Video & Animation also grew by 27%. ² This proactive hiring behavior suggests that SMBs are leveraging new technologies to innovate and accelerate in the AI era, turning to freelance experts to help them move faster, create dynamic content, and improve efficiency. Leaders across all business sizes generally display more confidence in their ability to handle macroeconomic shifts compared to previous months, citing access to the right tools and technology as a top confidence driver. ³

AI is amplifying human talent, with categories vulnerable to disruption like Writing growing, and content creation seeing record demand. ⁵
AI is amplifying human talent by creating demand for expertise in new, higher-value work. This is most notable across the Creative & Design, Writing, and Translation categories, where demand for skills like Content Writing and Language Tutoring & Interpretation grew 15% and 162%, ² respectively, largely driven by high-value work. This trend suggests that categories once thought to be most vulnerable to AI disruption are now evolving, with companies leveraging freelancers for more complex work. The need for human verification of AI outputs is further highlighted by skills like fact-checking, often used alongside AI, being among the top skills hired for in August. ⁴

The rise of the creator economy is also evident, with a historical high of 15% of jobs on Upwork coming from content creator demand. ⁵ Of these content creator jobs, nearly twice as many include AI skills compared to other non-technical jobs on Upwork, demonstrating how AI is expanding possibilities for creative professionals. ⁵

Top 10 Most In-Demand AI-Related Skills in August 2025 ⁴ :

Machine learning
Python
English
ChatGPT
Data labeling
Graphic design
Data annotation
Fact-checking
Image annotation
Video editing

“The top AI skills we’re seeing businesses hire for, such as fact-checking and video editing, show that the future of work is not about replacing humans with AI; it’s about human-AI collaboration,” said Dr. Teng Liu, economist for the Upwork Research Institute. “AI is reshaping projects, but human expertise remains the most critical component, driving strategic outcomes that prioritize uniquely human skills like quality control and creativity.”

The Upwork Monthly Hiring Report will be released monthly before the Employment Situation from the U.S. Bureau of Labor Statistics is published.

For more insights from the world’s human and AI-powered work marketplace, visit upwork.com/research .

About The Upwork Monthly Hiring Report
The Upwork Monthly Hiring Report is designed to provide an early signal of broader shifts in how business leaders are hiring in real-time and aims to provide a more comprehensive picture of hiring trends in the U.S. labor market with a focus on the freelance economy – a vibrant sector of the workforce that generates $1.5 trillion in earnings annually. ¹ It draws upon data from more than 1 million jobs posted annually on Upwork’s platform and a monthly business pulse survey from the Upwork Research Institute.

Methodology and Sources
¹ Upwork Future Workforce Index, April 2025.
² Upwork platform data reflecting month-over-month (MoM) changes based on new contract activity in the U.S. from August 1-25, 2025 compared to July 1-25, 2025. High-value work is defined as a contract of at least $1,000.
³ August Business Pulse Survey from the Upwork Research Institute.
⁴ Upwork platform data reflecting top freelance skills hired for based on new contract activity in the U.S. from August 1-25, 2025.
⁵ Upwork platform data reflecting job posts in the U.S. from August 1-25, 2025.

About Upwork Inc.
Upwork Inc. is the parent company of the Upwork Marketplace and Lifted , its enterprise-focused subsidiary. Through its family of businesses, Upwork Inc. connects companies with global, AI-enabled talent across every contingent work model.

The Upwork Marketplace is the world’s human and AI-powered work marketplace that connects businesses with highly skilled, AI-enabled independent talent from across the globe. From Fortune 100 enterprises to entrepreneurs, companies rely on the trusted Upwork Marketplace platform and its mindful AI companion, Uma ™, to find and hire expert talent, leverage AI-powered work solutions, and drive business transformation. With on-demand access to professionals spanning more than 10,000 skills across AI & machine learning, software development, sales & marketing, customer support, finance & accounting, and more, the Upwork Marketplace enables businesses of all sizes to scale, innovate, and transform their workforces for the age of AI and beyond.

Since its founding, with more than $25 billion in talent earnings facilitated to date, Upwork continues to deliver on its purpose to create opportunity in every era of work. Learn more at upwork.com and follow us on LinkedIn , Facebook , Instagram , TikTok , and X .

Contact
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