The self-employment earnings timebomb

Some more good charts and analysis on the increase in self-employment.

Flip Chart Fairy Tales

Lots of people have been poring over this week’s report on self-employment from the ONS.  I particularly liked this chart from Nathaniel Lichfield, showing annual growth in GDP, employment and self-employment.

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It shows clearly how, even though employment growth fluctuated with the economy, the rise in self-employment carried on regardless.

Self-employment, says the ONS, is now at a record high, both in terms of number and proportion of the workforce, accounting for around 70 percent of the increase in employment since the recession.

Screen Shot 2014-08-21 at 14.47.50But the increase is not due to more people becoming self-employed but to fewer people quitting self-employment. According to the ONS stats, the number of people becoming self-employed did not change much on pre-recession levels but the number of people leaving fell, by a lot.

Screen Shot 2014-08-21 at 14.57.47

It’s like filling a bath with the plug slightly open. If you then close the plug, the bath will fill more quickly, even…

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