Many unemployed workers filing an LLC instead of job hunting

As the jobs market continues to struggle, many unemployed workers are turning to entrepreneurship.

A new study by CareerBuilder says that of the people who have been out of work for more than six months, 26 percent are considering forming a company. Currently, 6.8 million people have been out of work for more than 27 weeks, meaning that millions are considering becoming their own bosses.

In addition to plans for new companies, the survey also found that 32 percent of small businesses intend to hire more workers in the second half of this year – helping to drive down the country’s unemployment rate.

But even as hiring begins to pick back up, statistics show that salaries in the current job market are much lower than they were before the financial crisis. Industry consultants told MarketWatch that positions that used to give salaries of between $40,000 and $50,000 are now paying as little as $28,000, and jobs that paid $100,000 are being offered for as low as $85,000.ADNFCR-3052-ID-19904213-ADNFCR

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Incfile Team

The Incfile team is here to provide small business owners and entrepreneurs with the tips needed to to form an LLC or corporation, and grow your business.
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