Many Americans who lost their jobs during the pandemic are turning to self-employment, a trend reflected in a 32% surge in self-employment tax applications in the first nine months of the year, according to Census Bureau data. "This shock is much more intense and has resulted in people turning to self-employment because they know those jobs probably aren't going to come back," says Joseph Brusuelas, chief economist at RSM US LLP.
Americans turn to self-employment during pandemic
Sign up for HERC Leadership & Careers SmartBrief
News about careers in higher education and related industries.
Get the intelligence you need: news and information that is changing your industry today, hand-curated by our professional editors from thousands of sources and delivered straight to your inbox.