We keep celebrating low unemployment—but data shows jobs and economic activity have been shifting to big business
==========
The U.S. labor market has cooled down since November 2023; small business employment growth has declined for 11 of the last 18 months; small businesses lost jobs for six consecutive months in 2024, with slight increases in July and flat growth in August; small businesses account for 77% of all U.S. employers; at peak employment in Q4 2022, small businesses employed over 13.08 million people; from Q1 2023 to Q4 2023, there were two quarters of decline and two quarters of flat growth; total decline of small business jobs from Q1 2024 to Q3 2024 was 47,200 jobs (-0.36%); economic activity is shifting from small to large businesses; small businesses face unprecedented challenges compared to past entrepreneurs; average revenues for small businesses increased despite employment contraction; policymakers are urged to develop targeted policies to support small businesses.
#Economy #SmallBusiness #Employment #Policy #Innovation #Covid19 #LaborMarket #BusinessGrowth #EconomicActivity #Fortune500
https://fortune.com/2024/09/25/low-unemployment-data-jobs-economy-shift-big-business/
Oddbean new post about login | logout