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> ... were not in the labor force, which means that they were not employed and were not seeking a job. Does entrepreneurs constitute labor force? If so, then "
by a_c 10y ago
> ... were not in the labor force, which means that they were not employed and were not seeking a job.
Does entrepreneurs constitute labor force? If so, then "labor force" and "not employed and not seeking a job" are not exactly the same
- bnastic 10y agoThe number of entepreneurs is insignificantly small to matter in this study.
- CydeWeys 10y agoI'm not aware of any unemployment figure that includes small business owners or those who are self-employed. The real question is, are people who retired early (see /r/financialindependence) counted in this figure? What about trust fund kids? I'd argue that if you have enough money to not need to work, and you aren't, and you don't want to, then you should slot into some category very different than the people who can't work and aren't self-sufficient financially.
- bandrami 10y agoYes, at least by BLS's instrument, entrepreneurs are both in the labor force and employed. Census runs a separate survey with separate definitions, and so does Treasury -- yes, it's infuriating -- and I don't know how entrepreneurs and SBOs fit in to those, but for BLS they count as employed if they're actually doing work for the company they founded (even if they're not yet taking a paycheck).