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Business Employment Dynamics

Business Employment Dynamics. David Talan Association of Public Data Users Washington, DC September 20 2010. BED are longitudinally linked QCEW microdata Unit of analysis is the Establishment BED Scope Private sector, excludes private households 6.8 million establishments

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Business Employment Dynamics

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  1. Business Employment Dynamics David Talan Association of Public Data Users Washington, DC September 20 2010

  2. BED are longitudinally linked QCEW microdata Unit of analysis is the Establishment BED Scope Private sector, excludes private households 6.8 million establishments 107 million employment BED reveals the dynamics of the labor market. BED data show gross job flows as well as net employment changes What are the BED?

  3. A set of statistics measuring changes in employment at the establishment level on a quarterly basis Job churn Creative destruction Entrepreneurship Economic development What are the BED?

  4. BED statistics break down the underlying dynamics of net employment change into the numbers and rates of gross jobs gained and gross jobs lost Gross job gains Expansions Openings Births Gross job losses Contractions Closings Deaths What are the BED?

  5. BED Data Series Available National Total Private National NAICS Sector National Firm Size State Total Private Size of Employment Change (National) Annual (National/State) Birth Death (National/State) National 3-digit NAICS New! Age Data New! September 2003 May 2004 December 2005 August 2007 September 2008 May 19, 2009 May 19, 2009 May 20, 2010 August 18, 2010

  6. High frequency and timely gross job flows Available 8 months after the reference quarter http://www.bls.gov/news.release/pdf/cewbd.pdf 2 week speed-up this year Data and charts available on the BLS website: http://www.bls.gov/bdm/ BED Press Release

  7. Gross job gains Gross job losses

  8. Expansions Contractions Openings Closings

  9. Even lagged data can be useful and insightful… “...sometimes the statistics that take the longest to arrive can provide the most important information, particularly when they point to inflection points in the economy.” • May 26, 2007 http://www.nytimes.com/2007/05/26/business/26charts.html

  10. BED data showed underlying weakness far before more current measures “A lesser-known employment snapshot, based on a quarterly census of state unemployment insurance records, shows the economy created about 19,000 private-sector jobs in the third quarter of 2006, the most recent data available... ” • May 24, 2007 http://online.wsj.com/article/SB117996499341212776.html?mod=todays_us_page_one

  11. Number of Openings – Closings: U.S. Total Private

  12. Small Firms Lagging, With Bulk of Job Losses “Most of the job losses at the end of last year took place at the smallest firms, underscoring how small businesses are lagging in the recovery.” • August 19, 2010 http://online.wsj.com/article/SB10001424052748704557704575437650742168186.html?mod=WSJ_economy_LeftTopHighlights

  13. Net Employment Change By Firm Size NOTE: Some smaller firms had net employment losses before the start of the recession in December 2007

  14. Why BED data by establishment age? • The Committee on National Statistics recommended employment dynamics data by age. • Age and survival data along will complete ‘demographic’ profile of US businesses. • Unsettled debate on who creates the most jobs: young or old firms? A debate similar to the small vs. large firms contribution to employment growth.

  15. Age and Survival Matrix

  16. Survival Rates Across Cohorts

  17. Young and Emerging Establishments

  18. Birth data are available for the most recent quarter 4th Quarter of 2009 Death data are available with a three quarter lag 1st Quarter of 2009 National and State series Number of Establishments Employment Levels Rates Seasonally Adjusted Unadjusted Birth & Death Data

  19. Current Dynamics: JOLTS

  20. Current Dynamics: JOLTS

  21. Current Dynamics: JOLTS

  22. Current Dynamics: JOLTS

  23. JOLTS Symposium • December 10, 2010 • Top researchers and panelists • Presentations and roundtable to develop lists of future development opportunities and priorities • Limited seating • Send me an E-mail if interested • clayton.rick@bls.gov

  24. Rick Clayton Phone: (202) 691-6515Email: clayton.rick@bls.gov Website: www.bls.gov/bdm

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