8/30/2010 9:00:00 AM
Apologies to my readers as I’ve been an absent blogger for the last couple of weeks with other work priorities. But it’s exciting that I’ve only been absent a couple of weeks and there is so much to update on regarding entrepreneurship and innovation data! So, I hope to catch up on postings in the coming week.
One of the biggest data releases of the year is a new series from the Bureau of Labor Statistics
. This is an extension of their population Business Employment Dynamics but one that adds more detail on two important measures – business age and survival – into their publically available series. Dive into the data
or read their overview of the release
I plan to spend more time with this data in the next few weeks as it fits nicely into a paper I am writing. For the time being, I looked at the data mostly to see if there was anything that looked really off or significantly different from a similar data release from the Census Bureau
and I am pleased to not have many problems to report. Perhaps the table that I found of most interest employment in surviving establishments. BLS has done an outstanding job of presenting the data in a logical manner so that each cohort of establishments can be followed over time without difficulty. So with this perspective
, it becomes easy to see that on average after more than 15 years, only about a quarter of establishments are surviving but that these establishments have grown in employment over time from an average of 7 to about 17 employees.
The BLS release of this data continues a trend at U.S. statistical agencies to add age as a component of ongoing business measurement and public release. It's a very exciting trend to see continuing and should bring more research in this area. Also of note in the last few weeks on this topic is the publication of a "Who Creates Jobs? Small v.s Large vs. Young"
by Haltiwanger, Jarmin, and Miranda. This is a good overview of why looking at business age as a component of analysis in government data is an important issue when studying job creation.
I should note that this is establishment data – not firm level data – so it doesn’t match perfectly with Census in that regard and will include both new companies and new locations of existing companies.