Self-Employed Individuals Over 60 Reach Record Levels: A Financial Insight
Self-Employment Surge Among Older Workers
Many individuals over 60 are venturing into self-employment as a response to the ongoing cost of living crisis. This demographic shift reflects a broader trend as financial pressures mount, forcing retirees and individuals nearing retirement to seek alternative income sources.
Reasons for Increased Self-Employment
- Financial Necessity: The state pension alone is proving insufficient for many.
- Flexibility: Self-employment offers more control over work schedules.
- Diverse Opportunities: The gig economy has expanded options for older workers.
Implications for the Workforce
This increase in self-employed individuals aged over 60 raises important questions about economic trends and the sustainability of such work arrangements. Policymakers must consider these changes when devising strategies to support older workers in the evolving job market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.