> For the complete documentation index, see [llms.txt](https://0xinverse.gitbook.io/0/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://0xinverse.gitbook.io/0/raw-market-intel-with-0xinverse/dashboard-decrypt-fred/labor-market-data/employment-levels.md).

# Employment Levels

<figure><img src="/files/CAPXdHwnQneeJ4DgoSht" alt=""><figcaption></figcaption></figure>

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.