Freelancers buck the trend of weak pay growth

Freelancers and the self-employed appear to be defying the trend of weak pay growth that is currently hurting people in traditional employment.

In fact, more than a third of self-employed people are confident that their income will increase over the next 12 months, according to freelance trade group PCG.

Reflecting on the finding, taken from the group’s latest Freelancer Confidence Index, PCG said it was encouraging that freelancers were “bucking the trend” of paltry pay growth.

The group was referring to the fact that new figures show earnings for people in conventional jobs grew in three months to May by 0.7 % -- the slowest rate since records began in 2001.

Accompanying figures from the ONS, also released yesterday, show that self-employment continues to rise – by 404,000 over the past 12 months to a new record of 4.58million.

The jump (9.7% up on last year and 1.7% up on the previous quarter) was welcomed by PCG, partly as it served to help reduce unemployment, which fell 6.5% in the three months to May.


16th July 2014

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