We live in strange and unsettling times. I found this post to be both insightful and depressing. I sincerely hope things improve as I suspect that at least one of my daughters is likely to be self employed once uni is done with!
Thanks to Rick for another excellent article!
More evidence of the collapse in self-employment incomes was published last week. The Resolution Foundation’s Earnings Outlook showed that the median weekly income of the self-employed is, in real terms, less than it was 20 years ago.
The gap between employee and self-employment earnings widened after the recession as the proportion of the workforce in self-employment rose to a record high.
On the same day, the Social Market Foundation also produced a report on low paid self-employment. They calculated that just under half the self-employed are being paid below the National Living Wage and that this rises to well above 50 percent in some sectors.
Furthermore, even before the introduction of the minimum wage, the self-employed were already more likely to be low paid than their employee counterparts in the same industry.
The discrepancy is only likely to get wider. The SMF report showed how difficult the self-employed find it to increase their…
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