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New Quarterly Workforce Indicators by Firm Age and Size
Transcript of New Quarterly Workforce Indicators by Firm Age and Size
Integrating new sources of data
Enhancing currently available statistics
Adding new data products Jobs Data Firm Data Person
Data We continue to integrate new information on workers and firms: Quarterly Workforce Indicators
Job-to-Job Flows (in development) UI wage data QCEW Social Security (age, sex) OPM data (federal workers) Schedule C (self-employed) Decennial Census (race, education) American Community Survey (race, education) LBD (firm age & size) 2009 vs. Today New in 2012: QWI by Firm Age and Firm Size Detailed employment and wage information by national age of firm (5 age classes) Start-ups
Established firms (including new establishments in established firms) ....And by size of firm (5 size classes) Small businesses
Large firms (including smaller establishments of large national firms) New in 2012: QWI and OnTheMap Federal Employment Federal Workers are not in state UI data and those jobs have been unavailable in previous releases of QWI and OnTheMap. Federal jobs are now included in OnTheMap
A supplemental QWI for federal workers is being rolled out state-by-state. -- Young firms have an important role in job creation and employment growth
-- Yet little is known about the characteristics of the jobs created by new firms Calculated from Quarterly Workforce Indicators, 23-state sample, 1998-2011 New firms contribute disproportionately to job creation, relative to employment share Youngest firms 4% of employment, 15% of job creation Why care about jobs at young firms? Use a 28-state pooled sample of QWI states from 1998-2011 (56% of US employment).
All results are seasonally adjusted, private sector employment only (universe of QWI-FAS) Some findings from the QWI on young firms Hires & Separations as a Share of Employment:
Young vs. Established Firms Startup Separations Startup Hires Young firms hire many workers relative to their size Shares of Hires and Separations due to Job Creation
and Destruction in Young vs. Established Firms Startups:
Job creation/Hires Despite high churn, job creation is 40% of hiring at young firms Ratio of Real Wages: Young/Established, Small/Large Wages at young firms (relative to established firms) have been falling We have used to new QWI data to examine hiring, separations, and wages at startups.
Findings to appear in a Kaufman Foundation brief in next few months Young/Est. (unweighted) Young/Est. (industry weighted) hires in Manufacturing
nationally per quarter, average over 2010 ~750,000 directly from another manufacturing job from nonemployment What we know now from current statistics: What we will know with additional job-to-job flow statistics: directly from an employee leasing firm 27% 23% 15% Retail, Restaurants, & Bars 50% 6% Construction Job-to-job flows allow us to see the interconnectedness of labor markets: ...and understand the interconnectedness of industries Automotive manufacturing Electrical component
manufacturing Machinery manufacturing Employee leasing Fabricated metal
manufacturing Computer Manufacturing Primary metal
manufacturing Movies & Sound Recording Performing Arts Broadcasting Copyright lessors Professional Services Amusement & Gambling How to access the new QWI data with firm age and size information If link fails, size and age are imputed using firm characteristics from the QCEW (QCEW size, QCEW age). What we do when link fails Firm Age:
-- age of oldest establishment belonging to the firm
-- the national size of firm (not establishment size) Our chief interest is national age and size of firm: About 92-95% of LEHD jobs can be linked to the Longitudinal Business Database (LBD) via EIN. The LBD contains age and size from longitudinally linked Business Register data.
First use of EIN to link production data. Some EIN cleanup, creation of completed EIN.
State-specific EIN quality problems – CA, WA
New EINs disproportionately missing link to LBD More on how the data are linked LBD (firm age & size) QCEW Firm
Data Instructions on 'What's New' section of LEHD website New QWI w/age and size information allow for better understanding of worker dynamics and wages at young firms
Despite very high churn, higher share of hiring at young firms are new jobs
Wages at young firms are lower and falling
Examine demographics of hiring at startups To sum up
Erika.McEntarfer@census.gov JC/A - Startups JC/A - 2-10 years JC/A - 11+