BusinessWeek is reporting that more people are working from home, and more of them are working for themselves, according to Census data released. The chart above compares the growth in the number of self-employed people working exclusively from home to growth in total home-based workers and the total number of people employed.
The number of self-employed who work exclusively from home increased from 3.47 million in 1999 to 4.34 million in 2005 (the latest available from the Census). The total population of working from home at least some of the time increased from 9.48 million to 11.33 million in the same period.
Also notable: the home-based workforce is well-educated and earns significant income. In 2005, 46.5% had at least a bachelor’s degree (compared to 27.2% of the total population over 25) and had median family income of $63,648 (compared to the national median of $46,242 that year). The biggest share (28%) of home-based businesses were in professional services – lawyers, accountants, programmers, consultants, and the like.
“The myth is around people working from home don’t make money, and that these things are part-time, hobbies,” Steve King of Emergent Research told me. “There’s a big chunk of these people who are serious as opposed to hobbies.”
Photo by BusinessWeek.