Starting Smaller; Staying Smaller: America's Slow Leak in Job Creation
Anyone following my blog knows that I have been spending a lot of time looking at job numbers in the U.S. as of late and am happy to say today that my report is finally out.
Starting Smaller; Staying Smaller: America's Slow Leak in Job Creation is a look at long-term trends around job creation by young, U.S. employer firms. Employer firms are important to track because they are the bigger starts, those with employees, and thus tend to have more of an employment impact on the larger U.S. economy.
I think for too long we have used tallies of new business starts as benchmarks of the health of the U.S. entrepreneurial system. What this report shows, is that young businesses have been undergoing some major changes in the last decade, particularly related to their employment patterns, and that the immediate, as well as accumulated effect, of these changes is a major reason for the United States' current unemployment problem
New businesses remain a critically important source for net job growth, but they are starting smaller and growing less in their first five years in comparison to historical trends.
Throughout the week, I'll be posting some portions of the report, as well as some things that didn't quite make the final report but that I think are still very telling and of interest to a more technical audience. Here are a few of the most important charts from the report.
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