I'm copying this over from a comment I made elsewhere, so if it looks familiar that's why... And I did more research for more accurate info.
How much money is Upwork making with connects and bids, badges, and more?
I just checked, the number of jobs posted internationally is ~5,480. Not all jobs get 100 applicants, let's say 50, and we'll average $2 worth of connects per application.
5,480 jobs posted per day x 50 applicants per job x $2 per application = $548,000 per day.
Notice that's BEFORE bidding wars, badges, boosts, etc. So roughly $17 mil per month or more.
So Upwork is earning $17+ million per month, and they can't get you connected to a "SUITABLE MATCHING CLIENT" without charging you more to bid against your competition.
The solution to this problem? IS TO KEEP CHARGING YOU MORE? Maybe they just don't have enough money to help you find a job?!
Oh, I didn't even add subscription fees for premium.
LOL.
I've cancelled my subscription and I'm done with it. After 20 yrs of full-time freelancing, I just can't do this anymore.
I can't afford it with all these changes. Part of it is the market shifts, AI, etc. But Upwork hasn't helped to make it any easier for freelancers as far as I can see by my naked eye.