On the loose with thrusting weapons, works but self-employed (10)

I believe the answer is:

freelances

I'm a little stuck... Click here to teach me more about this clue!

'weapons works but self-employed' is the definition.
I can't judge whether this defines the answer.

'on the loose with thrusting' is the wordplay.
'on the loose' becomes 'free' (similar in meaning).
'with' means one lot of letters go next to another.
'thrusting' becomes 'lances' (I am not sure about this - if you are sure you should believe this answer much more).
'free'+'lances'='FREELANCES'

Can you help me to learn more?

I've seen this clue in the Sydney Morning Herald.

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