Saturday, October 23, 2010
Self-Employment Rates Remain Higher Among Older Workers
According to a report by the Bureau of Labor Statistics, self-employment rates remained higher among older workers than younger workers in 2009. Among the unincorporated, self-employment rates ranged from 1.6% for those aged 16 to 19 years to 18.1% for those aged 65 years and older. Among the incorporated, rates ranged from 0.1% for those aged 16 to 19 years to 7.7% for those aged 65 years and older.
Self-employment rates were also higher among men than women. 8.3% of male workers were unincorporated self-employed and 5.4% were incorporated self-employed. Those rates compare with 5.6% and 2.3%, respectively, for women.
Unincorporated self-employment rates were lowest for individuals with an Associate's Degree, checking in at 6.6%, and highest among those with less than a high school diploma (9.9%). Only 2.0%, on the other hand, of individuals with less than a high school diploma were incorporated self-employed, as opposed to 6.6% of individuals with advanced degrees.