Baby Boomers Conquer Self-Employment Market

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Global outplacement firm Challenger, Gray Christmas reports the nation is on the brink of an explosion of new business start-ups.


The interesting thing is this boom, which is said will resemble the dot. com boom of the late ‘90’s, will be led by baby boomers and would-be retirees and tend to be better educated, healthier, and more tech-savvy than their 20-something predecessors.


A market survey conducted by Challenger during the 2005 second quarter shows that out of 3,000 job seekers, 13-percent started their own businesses in the second quarter, up from 9.9-percent during the same quarter last year.


Eighty-six percent of these entrepreneurs were over the age of 40. A Challenger analysis of unpublished government data also shows those 55 to 64 and older represent the fastest growing groups of self-employed workers.


Older entrepreneurs now make up 54-percent of self-employed workers, a jump from 48.5-percent in 2000.


All of the above text is a press release provided by the quoted organization. globalagingtimes.com accepts no responsibility for their accuracy.


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