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IPSE: stable self-employment is key part of the UK’s strong labour market
- 17 Apr 2018
IPSE has responded to today’s labour market statistics showing that the number of self-employed people in the UK has remained stable at roughly 4.8 million.
The ONS’s data also shows that overall employment has continued to grow, with 427,000 more people in work today compared to the same time last year, when employment reached a record-breaking 75.4 per cent. The figures also showed that unemployment has fallen, reaching 4.2 per cent compared to 4.7 per cent this time last year.
Tom Purvis, IPSE’s Political and Economic Advisor, commented: “Self-employment has grown rapidly since the financial crash, and although it hasn’t increased this month, its stability shows it is here to stay. Taken alongside the news that employment levels have risen again, this paints an undeniably positive picture of the UK labour market right now.
“Self-employment is allowing many who might not otherwise be able to – from retirees to disabled people – to make a major contribution to the UK economy. In fact, overall, the self-employed contribute no less than £271 billion to the UK economy – money that can be spent on schools, the NHS and a whole host of other important areas.
“To support this vital sector – as well as small businesses in general – IPSE and a collective of other think tanks and associations have set out ten recommendations to help the UK remain one of the best places to start a business. The recommendations will help make it simpler to start and grow a business and ensure that once small businesses are off the ground, they are paid on time and have access to Government contracts.”
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