Scott Shane: Job Gains Among Self Employed Lagging

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With all the focus on jobs and the rate of job growth, Scott Shane reminds us we need to pay some attention to the self-employed.  While they don't make up a significant enough fraction of the overall working population to affect big swings in employment data, growth in the numbers of self-employed might serve as a strong indication of increased entrepreneurship and a fertile startup environment.  At Small Business Trends, Shane writes:

A big jump in self-employment, particularly the incorporated self-employed who are more likely to hire others, might translate into job gains down the road.

Unfortunately, the figures for self-employment weren’t nearly as good as the overall figures last month. The number of self-employed Americans rose by a seasonally adjusted 31,000 in September, 2012. The percentage increase was only one third that of people employed by others.

The self-employed who run their own corporations – the biggest employers among the self-employed – had the weakest gains. Seasonally adjusted, the number dropped by 43,000 people last month.

Over the long term, the numbers are improving, but not as fast as one might hope. Incorporated self-employment is still down by 188,000 (or 3.4 percent) since January 2009.

Read the full post here.


Posted 10-15-2012 8:46 AM by Graham Griffith
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