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Job Growth in U.S. Driven Entirely by Startups, According to Kauffman Foundation Study
July 7, 2010 /
New firms add an average of 3 million jobs in their first year, while older companies lose 1 million jobs annually
When it comes to U.S. job growth, startup companies aren’t everything. They’re the only thing. It’s well understood that existing companies of all sizes constantly create – and destroy – jobs. Conventional wisdom, then, might suppose that annual net job gain is positive at these companies. A study released today by the Ewing Marion Kauffman Foundation, however, shows that this rarely is the case. In fact, net job growth occurs in the U.S. economy only through startup firms.
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Posted in: Regional Economic Development
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