February 11, 2004

The Entrepreneurial Recovery

Jeff Cornwall blogs a StartupJournal.com article about the entrepreneur-driven economic recovery. StartUpJournal.com reports:

...Proprietor's income, excluding the farm sector, was up 8.6% from a year earlier. By contrast, the wages and salaries of individuals on corporate payrolls were up just 2.3%."

So there is growth in the economy, but it is not on the radar screen of the antiquated statistics used by the federal government. The picture painted in the media showing hopeless unemployed wandering like some existential souls in a Camus novel into a life of self-employment out of desperation are not true. The data now shows that these folks, these entrepreneurs, are seeing growth in income that is twice the level of those within traditional jobs.