View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
November 11, 2020

How Covid is ending the self-employment boom

By Paul Dennis

11 November

Colin Williams, a public policy professor, shared an article on the likelihood of a million people in the UK planning to give up self-employment because their earnings had been exhausted due to the Covid-19 pandemic.

A London School of Economic (LSE) study revealed that the two-decade long trend of people choosing to work for themselves was under threat, much ahead of the release of the official data that was most likely to report a jump in unemployment rates.

The LSE’s Centre for Economic Performance (CEP) study further found that in August, when economic activities resumed after the first lockdown, about 58% of the UK’s self-employed workforce had less work than earlier.

About one-fifth of the self-employed workers contemplated quitting work altogether, rising to 58% for those below 25 years.

Stephen Machin, co-author of the report and director of CEP stated that self-employment, a key trend in the labour market, was showing early signs of reversing.

The CEP, who surveyed 1,500 self-employed workers, also found that approximately 32% of the surveyed workers had less than ten hours of work every week in August.

Read more

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The pharmaceutical industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Pharmaceutical Technology