Wednesday, November 22, 2017

Start-Up Firms Boost Employment

If you've ever wondered how many startup firms are in the United States, it's your lucky day because the Bureau of Labor Statistics counts them: in 2017, there were 415,226 startups. The BLS defines startups as firms that are no more than 1 year old. The annual number of startups has climbed 27 percent since hitting a low in 2010. But the 2017 number is still 9 percent below the 2006 peak...

Number of startup firms
2017: 415,226
2010: 326,091 (low)
2006: 457,223 (high)
2000: 417,515
1994: 403,747 (start of data series)

In every year since 1994, startups have accounted for most job growth. Of the 2.1 million net increase in jobs in 2017, startups accounted 1.7 million—or 84 percent of the total.

Source: Bureau of Labor Statistics, Job Gains among Startup Firms in 2017

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