Employment Levels

This chart provides an insightful comparison of different employment levels, focusing on wage and salary workers, incorporated self-employed individuals, and the total employment level.

1. Employment Level - Total Wage and Salary, Incorporated Self Employed: This index measures the employment level for individuals who are self-employed and have incorporated their businesses. They are often considered small business owners. The reference point is February 2020, with the employment level at that time represented as 100.

2. Employment Level - All Industries Self-Employed, Unincorporated: This index captures the employment level for self-employed individuals across all industries who have not incorporated their businesses. This group represents a wide range of workers including freelancers, independent contractors, and gig workers. The base reference point is also February 2020.

3. Employment Level: This is a comprehensive measure of the total employment level across all types of work, with February 2020 as the base reference point.

Together, these indices offer a nuanced view of employment trends across different types of work, providing insights into how different segments of the labor market are faring over time.

Potential Interpretations:

Positive Scenario: If all three employment levels are trending upwards, this suggests a robust labor market that is conducive to both wage employment and self-employment.

Negative Scenario: If the indices are trending downwards, it could signal deteriorating labor market conditions, potentially driven by factors such as economic contraction or changes in labor market structure. A diverging trend where, for instance, wage employment is increasing while self-employment is decreasing, could also indicate significant shifts in the nature of work and employment.