The recent recession in the United Kingdom has produced an increase in self-employed workers. There has been a 10% increase of self-employed workers since 2008.
Lost your job because of the recession? Be your own boss!
This seems to be the thinking of many hard working Brits who have lost their job because of the recent recession. Rather than waiting to be hired, these people have decided to be their own boss.
According to the Office of National Statistics, there was an increase of almost ten percent of workers who consider themselves self-employed. However, it doesn’t necessarily mean that there are more entrepreneurs in the United Kingdom. Those who are self-employed are likely to be taxi drivers or chauffeurs, construction workers and farmers.
Self-employed are 14% of workers
Since the recession in 2008, statistics have shown that there are 367,000 more people who now consider themselves self-employed. This means that in the United Kingdom, those who are self-employed comprise of 14% of the total working population of the country.
The statistics
The rise in self-employment peaked between 2011 and 2012. During this time, there was an increase of 60% of self-employed workers in the workforce. The bulk of those who are self-employed are males rather than females. Seventy percent of the self-employed are men.
The age
The median age of those who are self-employed is 47 years old. The majority of those who recently became self-employed were also older employees. Workers who are over 50 years old account for 84% of the total increase in those considered to be self-employed. The largest rise in those who became self-employed are for senior citizens or those 65 years old and over.
Longer work hours
Like other people who are in business for themselves, the self-employed tend to work longer hours.
The statistics gathered show that those who are employed tend to work an average of 36 hours per week. Those self-employed work an average 38 hours worked per week. Thirty seven percent of those listed as self-employed work 30-44 hours a week. Another 22% of the self-employed workers put in 45-50 hours a week, and another 13% working more than sixty hours a week.
Only ten percent of the self-employed work less than 14 hours a week, while 17% put in 15 to 29 hours a work week.
Where they are
Most of these self-employed workers are in London. Eighteen percent of the workers are working as their own boss in the British capital. On the other hand, only 11% of the workers in the North East are self-employed, making it the area with the lowest percent of self-employed workers.
Industries they are working in
Those who are self-employed aren’t necessarily business owners. The bulk of those who are self-employed are primarily cab drivers or chauffeurs. There are 166,000 listed taxi drivers and chauffeurs. These are followed by those working in construction trades (162,000 workers), and carpenters and joiners. The fourth most common occupation for those self-employed is farming.
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