Start-up activity fell to an average of just 3.7% of all jobseekers in the first two quarters of this year, down from 7.6% in the first half of 2009 and 9.6% in the second half, according to the global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc, reports WSJ.
The 3.4% first-quarter start-up rate and the 3.9% in the second quarter mark the lowest first-half since Challenger started recording data in 1986. The highest half-year start-up rate was 21.5% in the first six months of 1989.
The Challenger survey shows an increase in new start-up businesses in the third and fourth quarters of 2009 at 11.8% and 7.3%, respectively. The total number of self-employed workers jumped almost 3% to more than 9.1 million in December 2009 from just under 8.9 million that June.
There's no money and there is fear, a potent combination that will keep many jobseekers from venturing out on their own
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