Income loss among the self-employed: implications for individual wellbeing and pandemic policy measures.

ABSTRACT: Due to the pandemic-induced economic crisis, self-employed individuals are currently suffering considerable income losses. The self-employed and the members in their households usually form an economic unit. As a consequence, the income cuts not only affect the self-employed themselves but also the rest of their household. We used the German Socio-Economic Panel (SOEP) to calculate how much income the self-employed are able to sacrifice to achieve a subjective barely sufficient household income, which we interpret as the minimum level to maintain the standard of living. Our results suggest that full-time self-employed are typically the bread-earners in their households and that, as a consequence, even moderate income losses of the self-employed often lead to problems in maintaining the liv

SUBMITTER: Schneck S 

PROVIDER: S-EPMC8436007 | biostudies-literature | 2023

REPOSITORIES: biostudies-literature