The Unemployment Timebomb At The Heart Of Universal Credit

the void

self-employed-earnings-graph Iain Duncan Smith’s response this week to soaring low paid self-employment shows he remains as clueless as ever about what is really going on in the jobs market.

According to IDS, figures showing that the number of self-employed workers has jumped by 600,000 is a sign of “entrepreneurial spirit” and proves that his bungled and reckless policies are working. What is really going on is very different and lays the foundation for an unemployment time bomb at the heart of Universal Credit.

Some of the rise in self-employment is almost certainly down to falling living standards.  People who have taken early retirement are  setting up small businesses in an effort to pay soaring bills, along with so-called mumpreneurs – parents forced out of the workplace due to huge childcare costs and shit wages. The rise of the internet has also allowed some of those who are unemployed to generate a…

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