Wednesday, March 05, 2014

Will This Be the Bottom for Self-Employment?

The percentage of Americans who are self-employed shrinks a bit more nearly every year. Last year was no exception. In 2013, only 6.5 percent of the employed aged 16 or older were self-employed—yet another record low.  This figure was down from 7.0 percent in 2010 and 7.3 percent in 2000, according to the Bureau of Labor Statistics.

But we might have seen the bottom for self-employment. Beginning this year, the Affordable Care Act makes health insurance available to all. America's entrepreneurs are now free to start businesses without the loss of health insurance and the threat of financial catastrophe. This time next year we will know whether 2013 was the end of the long decline in self-employment.

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