3/31/2010 3:11:30 PM
The Bureau of Labor Statistics has a new statistical brief out on the recessionary job impact on firms of different sizes
. It's a really thoughtful piece looking at trends over the last two recessions and certainly appears to show the differential impact of this current recession on small businesses as compared to the previous recession which impacted large businesses much more. What I found most interesting was the following paragraph:
During the current recession, gross job gains reached a historic low in the BED series, with gross job gains for all firms dropping to an all-time low of 4,517,000 in the first quarter of 2009. This series minimum is reflected in all nine size classes. Gross job losses, however, have not yet reached the highest levels seen in the 1990 or 2001 recession. It appears that not only increasing gross job losses, but also decreasing gross job gains, particularly at small firms, are present in the current recession.
So as much as layoffs have been at all-time highs, its really the lack of hiring which appears to make the current recession standout in the BLS data.