Total Self-Employment Hit a New November High

By SBE Council at 22 December, 2025, 3:01 pm

by Raymond J. Keating –

The latest “Employment Situation” report showed that self-employment – a measure of full-time entrepreneurship – was up notably in November compared to a year earlier. In fact, a new high was registered.

Specifically, the number of incorporated self-employed (not seasonally adjusted) registered 7.14 million in November 2025. That was up compared to 6.83 million in November 2024. The November 2025 level is the highest in a dataset going back to 2000.

Meanwhile, the number of unincorporated self-employed (again, not seasonally adjusted) came in at 10.26 million in November 2025, up versus 9.78 million a year earlier. The November 2025 number was the highest since November 2006.

So, total (unincorporated plus incorporated) self-employment increased from 16.62 million in November 2024 to 17.40 million.

That 17.4 million was the highest November number in terms of combined data, again, dating back to 2000. That’s a notable plus for entrepreneurship and the future of the U.S. economy.

Raymond J. Keating is chief economist for the Small Business & Entrepreneurship Council. He is the author of “The Weekly Economist” book series, and 10 Points from Walt Disney on Entrepreneurship.