Self employment: 'record high'

Self-employment is becoming the preferred option for a growing number of the UK's working population, according to a freelanceuk.com report on the Office of National Statistics.

Traditional 9-5 working hours are taking a backseat to flexible working, meanwhile, and those signing up to new jobs are increasingly taking on limited term contracts.

ONS statistics for the first three months of 2006, according to freelanceuk, found that of 98,000 new jobs, self employment accounted for over half. It added three quarters of new jobs for employees were temporary or part-time placements.

ONS has called the latest figure for self-employment a 'record high'. So far in 2006, almost 4 million people set up their own business - the highest number since records began in 1992.

The report adds that the increase towards short-term work and self-employment has been most noticeable in the finance, insurance, and education sectors and in media, publishing and business services.

According to Phil Lowe, chief executive of people4business.com, there are now more than 3.7 million people working as freelance specialists enabling companies 'to supplement their full-time employees with extra skills when they need them'. All this, he added, makes for 'a much more flexible workforce than even 10 years ago'.

Source: www.freelanceuk.com/news/1743.shtml