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Job Creation, Worker Churning, and Wages at Young Businesses

November 1, 2012

Prior research has established the important role of startups and fast-growing young businesses in job creation and employment growth in the U.S. economy (Haltiwanger, Jarmin, and Miranda, (2010)). New firms and young businesses account for about 70 percent of gross job creation and disproportionately contribute to net job creation. The experimentation and dynamism of startups and young businesses also contribute to productivity growth (see, e.g., Haltiwanger (2012)). While the contribution to job creation and productivity is increasingly well understood, relatively little is known about the characteristics of the jobs generated by startups and young businesses. We use newly released data from the QWI using the firm size and firm age measures developed from the Business Dynamics Statistics (BDS) to shed light on characteristics of jobs at young businesses. We focus on three key characteristics of jobs -- job creation, the churning of workers, and earnings per worker.

Business Dynamics Statistics Briefing: High Growth and Failure of Young Firms

April 6, 2009

Highlights the role of young, entrepreneurial firms in job creation by summarizing data on how the number of years firms have been in business affect their net employment growth rates and job destruction rates when they go out of business.

Business Dynamics Statistics Briefing: Entrepreneurship Across States

February 10, 2009

Summarizes findings from new measures of business dynamics on the average percentage of jobs in each state that are created by young firms in 2000-05. Examines regional variations among states and explores correlations with average net employment growth.

Business Dynamics Statistics: An Overview

January 1, 2009

Describes new measures of business dynamics at the economy-wide, broad industry, state, firm size, and firm age levels of aggregation. Outlines findings on the effects of business formation on employment growth and churn rates among young businesses.

Business Dynamics Statistics Briefing: Jobs Created From Business Startups in the United States

January 1, 2009

Summarizes findings from new measures of business dynamics on jobs created by business start-ups in 1980-2005, compared with average annual net employment growth. Analyzes data by the start-ups' firm size.

Turmoil and Growth: Young Businesses, Economic Churning, and Productivity Gains

June 1, 2008

Summarizes research on how the establishment or failure of businesses contribute to job creation or destruction, how a young firm's contribution evolves as it matures, and how this process of new firms displacing old ones enhances productivity growth.