Personally, I'd like to be employed. Mind you, have an open schedule is very nice as well. Okay, I'd like to be employed (with a contract) and to have a flexible schedule. That's my final answer.
I can understand why people would like both options as both options have good things going for them. If you're in a situation where this question directly affects you, then I suggest you look at your own case and weigh the positives and negatives as they affect you.
Good luck with whatever you choose, people!