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Lawrence Mishel — Social Security data confirm same old pattern: Self-employment headcount has risen but economic impact remains small

Summary:
One indication of the growth of self-employment activity has been the rise in the number of people filing Schedule C income and self-employment earnings in their annual tax filings. This growth has been cited to illustrate the escalation of self-employment and to suggest that Bureau of Labor Statistics (BLS) measures of self-employment are missing an important phenomenon. Tracking headcounts of tax filings, however, does not adequately reflect trends in the economic impact of self-employment since, as this analysis shows, most of the growth is activity for supplementary incomes.... Gig economy.Economic Policy InstituteSocial Security data confirm same old pattern: Self-employment headcount has risen but economic impact remains small Lawrence Mishel | distinguished fellow at the Economic

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One indication of the growth of self-employment activity has been the rise in the number of people filing Schedule C income and self-employment earnings in their annual tax filings. This growth has been cited to illustrate the escalation of self-employment and to suggest that Bureau of Labor Statistics (BLS) measures of self-employment are missing an important phenomenon. Tracking headcounts of tax filings, however, does not adequately reflect trends in the economic impact of self-employment since, as this analysis shows, most of the growth is activity for supplementary incomes....
Gig economy.

Economic Policy Institute
Social Security data confirm same old pattern: Self-employment headcount has risen but economic impact remains small
Lawrence Mishel | distinguished fellow at the Economic Policy Institute
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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