May 15, 2001
A newly developed BLS database is capable of generating high-quality information on job creation, job destruction, and the life cycle of establishments.
Job creation is defined as the employment growth contributed by establishments that expand or start up, and job destruction is defined as the employment decline resulting from establishments that contract or shut down. The sum of job creation and job destruction is the net change in employment.
First results from the new BLS longitudinal database (referred to as LDB) show a tremendous amount of heterogeneity underlying net employment growth. For example, net growth between September 1999 and December 1999 was 0.9 percent. This reflected a job creation rate of 8.3 percent and a job destruction rate of 7.4 percent. Thus, these figures indicate that slightly more than 1 in 7 jobs were either created or destroyed in three months.
These data are from the BLS Covered Employment and Wages program. Percent changes in this article are computed with a denominator that is an average of levels in the two quarters. Note that unclassifiable establishments are not included on the chart. For more information, see "Measuring job and establishment flows with BLS longitudinal microdata," by Timothy R. Pivetz, Michael A. Searson, and James R. Spletzer, Monthly Labor Review, April 2001.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, New information on job creation and destruction on the Internet at http://www.bls.gov/opub/ted/2001/may/wk2/art02.htm (visited October 06, 2015).
New estimates of personal taxes in Consumer Expenditure Survey
In 2013, the Consumer Expenditure Survey improved its personal tax data.
Trends in long-term unemployment
Long-term unemployment reached historically high levels following the recession of 2007–2009.
Housing: before, during, and after the Great Recession
looks at consumer expenditures on household items, employment in residential construction, prices for household items, and injuries in occupations involved in building and maintaining our homes.