Is Self-Employment the Key to Ending Poverty?

When the economy collapsed and the world as most people knew it seemed to come to an end, lots of professionals had to re-evaluate the idea of job security. Workers had to start thinking outside the traditional employment box, and many have found answers in self-employment and work from home opportunities. Could this type of ambition and self-reliance help put an end to poverty as we know it? Some experts say yes.


The Rise of the Planet of the Self-Employed

Recent data from the Bureau of Labor Statistics shows that almost 10 percent of all workers in the United States identity themselves as self-employed. The data further shows that self-employed workers like freelancers, subcontractors and entrepreneurs are making a tangible difference in their local economies. So maybe it isn’t the big corporations that deserve the label “job creators” – maybe that moniker is more accurately applied to those workers who decide to go it alone.

A study of poverty and self-employment, conducted by Penn State, shows that self-employed professionals in non-metro areas of the US experienced growth in personal income and a decline in family poverty levels. “We often look at self-employment as…something done out of desperation,” said Professor Stephan Goetz of agricultural and regional economics at Penn State. “In fact, self-employment has a tangible effect in raising income growth and lowering poverty.” Continue reading “Is Self-Employment the Key to Ending Poverty?”