Self-employed slide further into poverty

Flip Chart Fairy Tales

The state of self-employed incomes doesn’t seem to be getting any better. Research published by the Social Market Foundation yesterday found that the proportion of low paid self-employed, based on both hourly and monthly earnings, has increased significantly since the recession.

Screen Shot 2016-03-21 at 11.00.57

Around 55 percent of the self-employed have monthly incomes that are less than two-thirds of median employee earnings.

This, says the SMF, is only going to get worse once the National Living Wage comes in. The self-employed are not covered by the NLW so, as the NLW rate rises, the gap between the self-employed and employees will increase. By the end of the decade, the SMF calculates that over half the self-employed will be on hourly rates below the minimum wage.

Screen Shot 2016-03-21 at 11.10.59

The research also found that a majority of the low paid self-employed don’t have any income from other sources and even where they do, most don’t have very much. Some of the self-employed might…

View original post 346 more words

About sdbast

Twitter profile @sdbast
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.