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⚡️Self-employment in Canada decreased over the pandemic. Where have all the self-employed workers gone? nitter.fdn.fr/i/events/1466507…
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Around 280,000 fewer people are self-employed than when the pandemic started, a decline of 9.7 per cent, according to Statistics Canada. The share of those who work for themselves (13.6 per cent) is the lowest in nearly four decades. tgam.ca/3Ijce1g
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It’s an unusual outcome in an economic downturn. Self-employment typically increases in a recession as laid-off employees look for alternative work arrangements. Plus, the self-employed do not fire themselves, hanging on if their business remains viable. tgam.ca/3Ijce1g
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This economic cycle is different. After huge layoffs, the number of employees snapped back quickly and now exceeds pre-crisis levels. A huge influx of federal support for companies helped them rehire, driving business insolvencies to record lows. tgam.ca/3Ijce1g
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Self-employment, by contrast, has been in a near-perpetual decline. And the losses are widespread, whether the self-employed are incorporated or not, or have paid help or work alone. tgam.ca/3Ijce1g
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So where have all the self-employed workers gone? Analysts say that with rising wages and companies hiring for a record number of positions, it’s likely they’re working for others rather than for themselves. tgam.ca/3Ijce1g
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Maggie Barton Baird owned an Edmonton-based event-planning company for eight years. When the pandemic hit, she quickly moved to planning virtual events. Then one of her clients, a tech company, approached her to join their team. She accepted. tgam.ca/3Ijce1g
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Her story is likely part of a wider trend. Tech companies are awash in cash and quickly increasing their head counts. At the same time, self-employment in the sector is dwindling. tgam.ca/3Ijce1g
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