Stay Curious. Stay Connected.
MailNewsletters♡Donate Now
Sign up
*Password must be at least 8 characters and contain one uppercase letter, one lowercase letter, one number and one symbol.
Already have an account?
By submitting, you consent that you are at least 18 years of age and to receive information about MPR's or APMG entities' programs and offerings. The personally identifying information you provide will not be sold, shared, or used for purposes other than to communicate with you about MPR, APMG entities, and its sponsors. You may opt-out at any time clicking the unsubscribe link at the bottom of any email communication. View our Privacy Policy.
Sign in to your profile
Forgot Password?
New to MPR News?
Welcome back
to news
for you
Reset Password

Enter the username on file and we'll send you a code to reset your password.

Still require assistance or not sure what your User Name is?
Welcome back
to news
for you
Email Verification

A verification code has been emailed to

Still awaiting the code?
Ground Level Blog
Dave Peters

Minneapolis Fed finds little evidence self-employment has grown

Go Deeper.

Create an account or log in to save stories.

Log inCreate a free Account

Like this?

Thanks for liking this story! We have added it to a list of your favorite stories.

Show me!

There's a difference between saying entrepreneurship is increasingly important and saying it's picking up speed.

Ron Wirtz, editor of the fedgazette, looked hard for data that might show an increase in entrepreneurial activity lately. As he explains in the January edition of the fedgazette, the quarterly newsletter published by the Federal Reserve Bank of Minneapolis, he didn't find much.

In sum, there appears to be very little in the way of data to suggest that self-employment is increasing, whether you're talking about temporary, make-ends-meet endeavors or more formal, incorporated businesses designed to shape a new career or fulfill a dream of being your own boss.

The piece is an in-depth look at what the numbers do and don't say about entrepreneurism and a great summary of the variety of ways to look at the data. (It's more exhaustive than my little effort the other day, but, I'm happy to report, similar in conclusion.)

None of which is to say the increasing emphasis on entrepreneurship among economic development officials, community activists, foundations and even the president, is somehow wrongly placed. Growing or not, entrepreneurs are increasingly appreciated as a powerful engine of potential economic growth.

And there is one chunk of data Wirtz points to that provides room to think self-employment may indeed be growing. The Bureau of Economic Analysis measure of income taken in by proprietors fell for three years in a row but rose sharply in 2010. Wirtz points out a lot of caveats about what that might mean, but at least it's one graph that turns upward at the end.

[image]