A recent law school grad lands a corporate job in Philly. With said job comes benefits, decent pay and the fast track to become partner.
Enter: the economic recession.
The grad isn't laid off and the company doesn't fire him. Instead, disillusioned with the corporate world, he opts out. He chooses instead to start his own one-man legal office and work as his own boss.
The move might sound a bit extreme, but it's far from uncommon throughout the United States, according to a BBC News article released Monday.
The article is the first installment of a series geared at examining job creation. The topic? Americans' inclination to leave current positions to enter into entrepreneurship on their own.
Although the national unemployment rate hovers at 9.1 percent, the article states the number of new businesses entering the scene is growing at its fastest rate in 15 years. Many people, it says, worry about the stability of their current positions or simply hope to opt out of the corporate world altogether.
The trend is an interesting one. While it does mean new businesses out there, most of these small endeavors aren't hiring, and so they don't have that multiplier effect economists encourage for economic growth.
So, what do you think? Is this a smart move on the business people's parts or does it bode poorly for the future economy? It's an interesting way to provide some financial security, for sure.
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