The National Statistical Office released its Annual Survey of Unincorporated Sector Enterprises, or ASUSE, on Tuesday. The official press release noted the number of such small informal establishments had risen by almost 13 per cent in the period between October 2023 and September 2024, compared to the same period a year prior. The number of jobs provided by such employment also grew, but at a somewhat smaller rate.
This could be presented as a good sign—any job growth is welcome. But, at aggregate level, it is hard to see it as a good indicator for the economy overall. In particular, much of the growth in the number of establishments and jobs came from what are called "own account enterprises," or OAEs, which are essentially one-person or family shops that do not hire any workers regularly.
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