Whether they are a growing underclass or a sign of the UK economy’s bright future, the growing army of self-employed warrant our attention
This is likely to continue in the near term. But most would agree that there are still some reasons to be concerned about the state of working Britain, pointing towards the poor performance of real wages over the last half decade, a squeeze on living standards unprecedented in modern Britain.
But there is also an important debate around self-employment, which has proven to be a key driver of overall job creation while also perplexing policy makers and commentators as to its causes and consequences.
When compared to other European countries, the growth in self-employment in the UK is remarkable. Between the first quarters of 2013 and 2014, the number of self-employed workers rose by 8 per cent, faster than any other Western European economy (see chart).
Looked at as a share of overall employment it presents a similar picture, with the proportion of workers who are self-employed rising by almost a percentage point in a single year, again among the fastest in Europe.
The UK, a country that for many years had internationally low levels of self-employment, has caught up with the EU average and, if current growth continues, will look more like the Southern and Eastern European country which tend to have much larger shares of self-employed workers.
Chosen excerpts by Job Market Monitor. Read the whole story at The UK is becoming the self-employment capital of Europe | Left Foot Forward.
Self-employment in UK – More than two in five new jobs created since mid-2010 have finds Trades Union Congress
Self-employment accounts for 44 per cent of the net rise in employment since mid- 2010, with pensioners, part-time workers and ‘odd-jobbers’ the fastest growing groups of Britain’s new self-employed workforce, the TUC says today (Monday) ahead of the latest employment figures published later this week. The TUC analysis shows that despite self-employment being a relatively … Continue reading
The number of self-employed people in Britain has shot up by 367,000 since the financial crisis, according to official figures, becoming the fastest growing sector in the labour market and masking a fall in the number of employees, as many were forced to make their own way because of the global downturn. In recent months, … Continue reading
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 … Continue reading
Government ministers like to talk about the jobs created on their watch, but over the last few years lots of people have been creating their own jobs. Three quarters of the increase in employment since 2008 has come from self-employment. Source: ONS employment statistics Some have hailed this as the sign of a new entrepreneurial … Continue reading
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It’s estimated that a whopping 10 million individuals, or 6.6% of all reported jobs, were self-employed in the U.S. as of 2013–however, that figure has declined significantly since the recession, according to a new report from CareerBuilder and Economic Modeling Specialists Intl. (EMSI). The number of self-employed workers is down 9% (936,000 jobs) since the … Continue reading
As the nation’s employment rate continued to improve, America’s overall business creation rate fell again in 2013. According to the annual Kauffman Index of Entrepreneurial Activity, released today, the rate declined slightly from 0.30 percent of American adults per month starting businesses in 2012 to 0.28 percent in 2013. That translates into approximately 476,000 new … Continue reading