Self-employment

Self-employment is the state of working for oneself rather than an employer. Tax authorities will generally view a person as self-employed if the person chooses to be recognised as such or if the person is generating income for which a tax return needs to be filed. In the real world, the critical issue for the tax authorities is not whether a person is engaged in a business activity (called “trading” even when referring to the provision of a service) but whether the activity is profitable and therefore potentially taxable. In other words, the activity of trading is likely to be ignored if no profit is present, so occasional and hobby- or enthusiast-based economic activity is generally ignored by the tax authorities. Self-employed people are usually classified as a sole proprietor (or sole trader), independent contractor, or as a member of a partnership.

Self-employed people generally find their own work rather than being provided with work by an employer and instead earn income from a profession, a trade, or a business that they operate. In some countries, such as the United States and the United Kingdom, the authorities are placing more emphasis on clarifying whether an individual is self-employed or engaged in disguised employment, in other words pretending to be in a contractual intra-business relationship to hide what is in fact an employer-employee relationship.

На основании Вашего запроса эти примеры могут содержать грубую лексику.

На основании Вашего запроса эти примеры могут содержать разговорную лексику.

Предложения

Employment grew by 0.1 per cent during 1998-99.

В период 1998 – 1999 годов занятость возросла на 0,1 процента.

По работе:  Зарплата линукс администратора

Employment and other income generating activities are prohibited under this visa type.

Занятость и другие виды деятельности, приносящие доход, запрещены по типу этой визы.

Employment is such an important but difficult step for ex-convicts.

Трудоустройство – это очень важный, но трудный шаг для бывших преступников.

Employment – the main task facing them.

Attach to your application a separate form Residence and Employment Abroad.

Приложите к своему заявлению отдельный бланк «Проживание и работа за границей».

Employment of construction companies offering apartments in new Mytishchi permanently secured.

Работа у строительных компаний, предлагающих квартиры в новостройках Мытищ, постоянно обеспечена.

Employment legislation provides for financial assistance to job-seekers.

Законодательство о занятости предусматривает предоставление финансовой помощи лицам, ищущим работу.

Employment and adequate income are important factors in promoting social security.

Занятость и надлежащая и достаточная оплата труда – важные факторы в обеспечении социальной безопасности.

Employment growth and poverty alleviation are critically linked.

Между увеличением занятости и смягчением остроты проблемы нищеты существует исключительно тесная взаимозависимость.

Ничего не найдено для этого значения.

Предложения, которые содержат Employment

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Индекс слова: 1-300, 301-600, 601-900

Индекс выражения: 1-400, 401-800, 801-1200

Индекс фразы: 1-400, 401-800, 801-1200

The concept of full employment of labor corresponds to the concept of potential output or potential real GDP and the long run aggregate supply (LRAS) curve. In neoclassical macroeconomics, the highest sustainable level of aggregate real GDP or “potential” is seen as corresponding to a vertical LRAS curve: any increase in the demand for real GDP can only lead to rising prices in the long run, while any increase in output is temporary.

This provides a useful update on the strength of the labour market, particularly when it coincides with the sample week used for the ‘Employment Situation’ report.

Это дает полезное обновление по силе рынка труда, особенно когда оно совпадает с неделей, используемой для отчета о занятости.

The Assistant Secretary position was created by P.L. 96-466 in October 1980, to replace the Deputy Assistant Secretary for Veterans’ Employment position created by P.L. 94-502 in October 1976.

Должность помощника секретаря была создана приказом 96-466 в октябре 1980 года, чтобы заменить должность заместителя помощника Секретаря по вопросам занятости ветеранов, созданной приказом 94-502 в октябре 1976 года.

Particular mention should be made of the Disabled Workers’ Employment Participation Programme, created by Ministry of Labour, Employment and Social Security Resolution No. 802/2004.

В этой связи необходимо отметить Программу трудоустройства лиц с ограниченными физическими возможностями, которая была создана решением 802/2004 Министерства труда, занятости и социального обеспечения.

‘Employment relations in Britain’.

According to the Basic Survey on Women Workers’ Employment Management conducted in FY2004, 70.6% of women who gave birth to a child took child care leave, while 0.56% of men took child care leave.

Согласно результатам базового обследования организации труда работающих женщин, проведенного в 2004 финансовом году, отпуском по уходу за ребенком воспользовались 70,6 процента женщин, родивших ребенка, и 0,56 процента мужчин – супругов родивших женщин.

The U.S. Bureau of Labor Statistics’ Employment Projections program offers information about the labor market for the United States for 10 years into the future.

Бюро Статистики Рынка Труда США (Bureau of Labor Statistics) спрогнозировала развитие рынка труда в США на ближайшие десять лет.

The United States Office of the Assistant Secretary for Veterans’ Employment and Training (OASVET) was established by Secretary’s Order No. 5-81 in December 1981.

Служба занятости и профессиональной подготовки ветеранов (OASVET) была учреждена приказом Секретаря Министерства труда Nº 5-81 в декабре 1981 года.

From 1984-1997 she worked as a researcher at the Central Research Laboratory of Labour Resources of the R&D Institute of Labour and the Russian Academy of Sciences’ Employment Problems Institute.

В 1984-1997 гг. работала научным сотрудником в Центральной научно-исследовательской лаборатории трудовых ресурсов НИИ труда, а также в Институте проблем занятости Российской академии наук.

Migrants’ employment prospects continued to improve in 2018, building on the positive trends observed during the last five years.

Перспективы трудоустройства мигрантов продолжали улучшаться в 2018 году, опираясь на позитивные тенденции последних пяти лет.

Предложения, которые содержат ‘ Employment

In the United States, any person is considered self-employed for tax purposes if that person is running a business as a sole proprietorship, independent contractor, as a member of a partnership, or as a member of a limited liability company that does not elect to be treated as a corporation. In addition to income taxes, these individuals must pay Social Security and Medicare taxes in the form of a SECA (Self-Employment Contributions Act) tax.

Immigrant and ethnic minorities

Generally, only 92.35% of the self-employment income is taxable at the above rates. Additionally, half of the self-employment tax, i.e., the employer-equivalent portion, is allowed as a deduction against income.

Self-employed persons report their business income or loss on Schedule C of IRS Form 1040 and calculate the self-employment tax on Schedule SE of IRS Form 1040. Estimated taxes must be paid quarterly using form 1040-ES if estimated tax liability exceeds $1,000.

401(k) retirement account

Self-employed workers cannot contribute to a company-run 401(k) plan of the type with which most people are familiar. However, there are various vehicles available to self-employed individuals to save for retirement. Many set up a Simplified Employee Pension Plan (SEP) IRA, which allows them to contribute up to 25% of their income, up to $54,000 (2017) per year. There is also a vehicle called the Self-Employed 401k (or SE 401(k)) for self-employed people. The contribution limits vary slightly depending on how the business is organized.

Effects on income growth

Self-employment in the UK, 2008 to 2014

A self-employed person in the United Kingdom can operate as a sole trader or as a partner in a partnership (including a limited liability partnership or “LLP”) but not through an incorporated limited (or unlimited) liability company.

It is also possible for someone to form a business that is run only part-time or concurrently while holding down a full-time job. This form of employment, while popular, does come with several legal responsibilities. When remote working, clearance may sometimes be required from the local authority to use part of the home as business premises. Should the self-employed person hold records of customers or suppliers in any electronic form they will be required to register with the Information Commissioner’s Office. Other legal responsibilities include statutory public liability insurance cover, modifying premises to be disabled-friendly, and the proper recording and accounting of financial transactions. Free advice on the range of responsibilities is available from government operated Business Link centres.

  • The Taxation of Capital and Labor through the Self-employment Tax Congressional Budget Office
  • https://www.gov.uk/working-for-yourself

William Beveridge defined “full employment” as where the number of unemployed workers equaled the number of job vacancies available (while preferring that the economy be kept above that full employment level in order to allow maximum economic production).

This definition allows for certain kinds of unemployment, where the number of unemployed workers equals the number of vacancies. Unemployment of this kind can take two forms: frictional and structural. Frictional unemployment is where the unemployed are searching for the best possible jobs whilst employers are also searching for the best possible employees to fulfil those jobs. Structural unemployment exists when the skills and geographical locations of the unemployed workers do not correspond to the skill requirements and locations of the vacancies. In either case, there exists a job for every worker, and a worker for every job.

An economy with less than full employment in Beveridge’s sense will have either classical unemployment, cyclical unemployment, or both. Classical unemployment results from the actual real wage rising above the equilibrium real wage, so that the quantity of labor demanded (and the number of vacancies) is less than the quantity of labor supplied (and the number of unemployed workers). This might occur because of inefficient interference in the market; for example, a minimum wage set above the equilibrium wage; but also because of market failure, such as that caused by cartels.

Under classical unemployment, the ways by which a return to Beveridge full employment can occur depend on the nature of the rise in wages- if it is only “nominal” wages that are rigid (failing to return to equilibrium), then real wages can decrease if prices rise relative to the rigid nominal wages. If nominal wages track price levels, however, then changes to prices will not affect the real wage- and thus employment will remain below Beveridge full employment.

The Phillips curve

The theories behind the Phillips curve pointed to the inflationary costs of lowering the unemployment rate. That is, as unemployment rates fell and the economy approached full employment, the inflation rate would rise. But this theory also says that there is no single unemployment number that one can point to as the “full employment” rate. Instead, there is a trade-off between unemployment and inflation: a government might choose to attain a lower unemployment rate but would pay for it with higher inflation rates. In essence, in this view, the meaning of “full employment” is really nothing but a matter of opinion based on how the benefits of lowering the unemployment rate compare to the costs of raising the inflation rate.

Though their theory had been proposed by the Keynesian economist Abba Lerner several years before (Lerner 1951, Chapter 15), it was the work of Milton Friedman, leader of the monetarist school of economics, and Edmund Phelps that ended the popularity of this concept of full employment. In 1968, Friedman posited the theory that full employment rate of unemployment was ‘’’unique’’’ at any given time. He called it the “natural” rate of unemployment. Instead of being a matter of opinion and normative judgment, it is something we are stuck with, even if it is unknown. As discussed further, below, inflation/unemployment trade-offs cannot be relied upon. Further, rather than trying to attain full employment, Friedman argues that policy-makers should try to keep prices stable (meaning a low or even a zero inflation rate). If this policy is sustained, he suggests that a free-market economy will gravitate to the “natural” rate of unemployment automatically.

To understand this concept, start with the actual unemployment equal to the NAIRU. Then, assume that a country’s government and its central bank use demand-side policy to reduce the unemployment rate and then attempt to keep the rate at a specific low level: rising budget deficits or falling interest rates increase aggregate demand and raise employment of labor. Thus, the actual unemployment rate falls, as going from point A to B in the nearby graph. Unemployment then stays below the NAIRU for years or more, as at point B. In this situation, the theory behind the NAIRU posits that inflation will accelerate, i.e. get worse and worse (in the absence of wage and price controls). As the short-run Phillips curve theory indicates, higher inflation rate results from low unemployment. That is, in terms of the “trade-off” theory, low unemployment can be “bought,” paid for by suffering from higher inflation. But the NAIRU theory says that this is not the whole story, so that the trade-off breaks down: a persistently higher inflation rate is eventually incorporated as higher inflationary expectations. Then, if workers and employers expect higher inflation, it results in higher inflation, as higher money wages are passed on to consumers as higher prices. This causes the short run Phillips curve to shift to the right and upward, worsening the trade-off between inflation and unemployment. At a given unemployment rate, inflation accelerates. But if the unemployment rate rises to equal the NAIRU, we see higher inflation than before the expansionary policies, as at point C in the nearby diagram. The fall of the unemployment rate was temporary because it could not be sustained. In sum, the trade-off between inflation and unemployment cannot be relied upon to be stable: taking advantage of it causes it to disappear. This story fits the experience of the United States during the late 1960s, during which unemployment rates stayed low (below 4% of the civilian labor force) and inflation rates rose significantly.

Second, examine the other main case. Again start with the unemployment rate equal to the NAIRU. Then, either shrinking government budget deficits (or rising government surpluses) or rising real interest rates encourage higher unemployment. In this situation, the NAIRU theory says that inflation will get better (decelerate) if unemployment rates exceed the NAIRU for a long time. High unemployment leads to lower inflation, which in turn causes lower inflationary expectations and a further round of lower inflation. High unemployment causes the short-run inflation/unemployment trade-off to improve. This story fits the experience of the United States during the early 1980s (Paul Volcker’s war against inflation), during which unemployment rates stayed high (at about 10% of the civilian labor force) and inflation rates fell significantly.

Finally, the NAIRU theory says that the inflation rate does not rise or fall when the unemployment equals the “natural” rate. This is where the term NAIRU is derived. In macroeconomics, the case where the actual unemployment rate equals the NAIRU is seen as the long-run equilibrium because there are no forces inside the normal workings of the economy that cause the inflation rate to rise or fall. The NAIRU corresponds to the long-run Phillips curve. While the short-run Phillips curve is based on a constant rate of inflationary expectations, the long-run Phillips curve reflects full adjustment of inflationary expectations to the actual experience of inflation in the economy.

As mentioned above, Abba Lerner had developed a version of the NAIRU before the modern “natural” rate or NAIRU theories were developed. Unlike the currently dominant view, Lerner saw a range of “full employment” unemployment rates. Crucially, the unemployment rate depended on the economy’s institution. Lerner distinguished between “high” full employment, which was the lowest sustainable unemployment under incomes policies, and “low” full employment, i.e., the lowest sustainable unemployment rate without these policies.

Further, it is possible that the value of the NAIRU depends on government policy, rather than being “natural” and unvarying. A government can attempt to make people “employable” by both positive means (e.g. using training courses) and negative means (e.g. cuts in unemployment insurance benefits). These policies do not necessarily create full employment. Instead, the point is to reduces the amount of mismatch unemployment by facilitating the linking of unemployed workers with the available jobs by training them and or subsidizing their moving to the geographic location of the jobs.

Whatever the definition of full employment, it is difficult to discover exactly what unemployment rate it corresponds to. In the United States, for example, the economy saw stable inflation despite low unemployment during the late 1990s, contradicting most economists’ estimates of the NAIRU.

The idea that the full-employment unemployment rate (NAIRU) is not a unique number has been seen in recent empirical research. Staiger, Stock, and Watson found that the range of possible values of the NAIRU (from 4.3 to 7.3% unemployment) was too large to be useful to macroeconomic policy-makers. Robert Eisner suggested that for 1956-95 there was a zone from about 5% to about 10% unemployment between the low-unemployment realm of accelerating inflation and the high-unemployment realm of disinflation. In between, he found that inflation falls with falling unemployment.

  • The OECD on measuring the NAIRU
  • Devine, James. 2004. The “Natural” Rate of Unemployment. In Edward Fullbrook, ed., A Guide to What’s Wrong with Economics, London, UK: Anthem Press, 126–32.
  • Eisner, Robert. 1997. A New View of the NAIRU. In Paul Davidson and Jan A. Kregel, eds. Improving the Global Economy. Cheltenham, UK: Edgar Elgar, 1997.
  • Friedman, Milton. 1968. The Role of Monetary Policy. American Economic Review. 58(1) March: 1-21.
  • Lerner, Abba. 1951. Economics of Employment, New York: McGraw-Hill.
  • Staiger, Douglas, James H. Stock, and Mark W. Watson. 1997. The NAIRU, Unemployment and Monetary Policy. Journal of Economic Perspectives. 11(1) Winter: 33–49.

The active pursuit of national full employment through interventionist government policies is associated with Keynesian economics and marked the postwar agenda of many Western nations, until the stagflation of the 1970s.

The law states that full employment is one of four economic goals, in concert with growth in production, price stability, balance of trade, and budget, and that the US shall rely primarily on private enterprise to achieve these goals. Specifically, the Act is committed to an unemployment rate of no more than 3% for persons aged 20 or over, and not more than 4% for persons aged 16 or over (from 1983 onwards), and the Act expressly allows (but does not require) the government to create a “reservoir of public employment” to affect this level of employment. These jobs are required to be in the lower ranges of skill and pay so as to not draw the workforce away from the private sector.

Most readers would interpret this statement as referring to only cyclical, deficient-demand, or “involuntary unemployment” (discussed below) but not to unemployment existing as “full employment” (mismatch and frictional unemployment). This is because, writing in 1929, Keynes was discussing a period in which the unemployment rate had been persistently above most conceptions of what corresponds to full employment. That is, a situation where a tenth of the population (and thus a larger percentage of the labor force) is unemployed involves a disaster.

One major difference between Keynes and the Classical economists was that while the latter saw “full employment” as the normal state of affairs with a free-market economy (except for short periods of adjustment), Keynes saw the possibility of persistent aggregate-demand failure causing unemployment rates to exceed those corresponding to full employment. Put differently, while Classical economists saw all unemployment as “voluntary”, Keynes saw the possibility that involuntary unemployment can exist when the demand for final products is low compared to potential output.
This can be seen in his later and more serious work. In his General Theory of Employment, Interest, and Money, chapter 2, he used a definition that should be familiar to modern macroeconomics:

The only difference from the usual definitions is that, as discussed below, most economists would add skill/location mismatch or structural unemployment as existing at full employment. More theoretically, Keynes had two main definitions of full employment, which he saw as equivalent. His first main definition of full employment involves the absence of “involuntary” unemployment:

Put another way, the full employment and the absence of involuntary unemployment correspond to the case where the real wage equals the marginal cost to workers of supplying labor for hire on the market (the “marginal disutility of employment”). That is, the real wage rate and the amount of employment correspond to a point on the aggregate supply curve of labor that is assumed to exist. In contrast, a situation with less than full employment and thus involuntary unemployment would have the real wage above the supply price of labor. That is, the employment situation corresponds to a point above and to the left of the aggregate supply curve of labor: the real wage would be above the point on the aggregate supply curve of labor at the current level of employment; alternatively, the level of employment would be below the point on that supply curve at the current real wage.

Second, in chapter 3, Keynes saw full employment as a situation where “a further increase in the value of the effective demand will no longer be accompanied by any increase in output.”

This means that at and above full employment, any increase in aggregate demand and employment corresponds primarily to increases in prices rather than output. Thus, full employment of labor corresponds to potential output.

Whilst full employment is often an aim for an economy, most economists see it as more beneficial to have some level of unemployment, especially of the frictional sort. In theory, this keeps the labor market flexible, allowing room for new innovations and investment. As in the NAIRU theory, the existence of some unemployment is required to avoid accelerating inflation.

  • A. A. Berle, ‘A New look at management responsibility’ (1962) 2 Human Resource Management 3
  • W. Beveridge, Full Employment in a Free Society (1944)
  • Farmer, Roger E. A. (1999). “Unemployment”. Macroeconomics (Second ed.). Cincinnati: South-Western. pp. 173–192. ISBN 0-324-12058-3.
  • M. S. Eccles, Beckoning Frontiers: Public and Personal Recollections (1951)
  • Michał Kalecki, ‘Political aspects of full employment’ (1943) 14(4) Political Quarterly 322
  • E. McGaughey, A Casebook on Labour Law (Hart 2018) ch 16
  • Robert Reich, Aftershock: The next economy and America’s future (2012)
  • S. Webb, How the Government Can Prevent Unemployment (1912)

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