the White House was happy this month because the number of people working is finally beginning to increase. BUT who’s doing it? It’s people starting their own business. Politicians were happy because 57,000 new jobs were created by businesses last month but the number of people starting their own business rose by 91,000.
a new report by the Center for Labor Market Studies at Northeastern University shows that our country has just come out of a recession. In every past recession since WWII the amount of extra money the economy made was split in the following way: about 61% went to wages for employees and about 24% went to corporate profits and income to small business owners. In the most recent recovery in 2002 and 2003, only 38% went to employee wages and 52% went to small business owners and corporate profits