Job gains from new firms are at the lowest share of employment in over 20 years, another sign of the declining role entrepreneurship plays in the U.S. economy.
Job gains from opening establishments as a percentage of overall private-sector employment dropped to 1% in the first quarter of 2016, the lowest level recorded since the Labor Department began the data series in 1992, and half what it was at its peak.
Throughout the 1990s, the share hovered between 1.6% and 2%, and edged lower throughout the subsequent decade. Since 2009, when the economic recovery began, it held between 1.1% and 1.3%.
Source: The Wall Street Journal
Thursday, November 10, 2016
Job Growth From New Firms At Lowest Level In Over 20 Years
Posted By Milton Recht
From The Wall Street Journal, Real Time Economics, "Job Gains at Startups Are Way Down and That’s a Bad Sign: Job gains from new firms are at the lowest share of employment since 1992" by Anna Louie Sussman:
Posted 11/10/2016 12:30:00 AM