UK / Older workers / Propelling the rise in self-employment

Older workers have propelled the increase in self-employment that has helped to hold down the jobless rate since the economic crisis began, a Financial Times analysis shows.

The proportion of workers who are self-employed has climbed to a record 14 per cent over the past four years – helping to keep a lid on unemployment as the economy has shrunk.

But the phenomenon has not been evenly spread. People aged 50 and older account for more than 80 per cent of the increase in self-employment since 2008.

Some older people are choosing to set up their own businesses, challenging conventional wisdom that recessions bring out entrepreneurialism mostly in the young. Others are resorting to self-employment because they cannot find jobs or afford fully to retire.

“A lot of people are following the self-employed route – either willingly or just resignedly – because they don’t have other options,” said Keith Simpson, of Skilled People, a recruitment website that links older jobseekers with companies…

Choosen excerpts by Job Market Monitor from

via Older workers lead rise in self-employment – FT.com.