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Business Dynamics BlockPy Library

From the CORGIS Dataset Project

By Austin Cory Bart acbart@vt.edu
Version 2.0.0, created 2/26/2017
Tags: government, united states, us, usa, business, businesses, firms, establishments, jobs, census

Overview

The Business Dynamics Statistics (BDS) includes measures of establishment openings and closings, firm startups, job creation and destruction by firm size, age, and industrial sector, and several other statistics on business dynamics. The U.S. economy is comprised of over 6 million establishments with paid employees. The population of these businesses is constantly churning -- some businesses grow, others decline and yet others close. New businesses are constantly replenishing this pool. The BDS series provide annual statistics on gross job gains and losses for the entire economy and by industrial sector, state, and MSA. These data track changes in employment at the establishment level, and thus provide a picture of the dynamics underlying aggregate net employment growth.

There is a longstanding interest in the contribution of small businesses to job and productivity growth in the U.S. Some recent research suggests that it is business age rather than size that is the critical factor. The BDS permits exploring the respective contributions of both firm age and size.

BDS is based on data going back through 1976. This allows business dynamics to be tracked, measured and analyzed for young firms in their first critical years as well as for more mature firms including those that are in the process of reinventing themselves in an ever changing economic environment.

If you need help understanding the terms used, check out these definitions.

https://www.census.gov/data/developers/data-sets/business-dynamics.html

Key Descriptions

Key List of... Comment Example Value
State String The state that this report was made for (full name, not the two letter abbreviation). "Alabama"
Year Integer The year that this report was made for. 1977
Data.DHS Denominator Integer The Davis-Haltiwanger-Schuh (DHS) denominator is the two-period trailing moving average of employment, intended to prevent transitory shocks from distorting net growth. In other words, this value roughly represents the employment for the area, but is resistant to sudden, spiking growth. 933909
Data.Number of Firms Integer The number of firms in this state during this year. 52371
Data.Calculated.Net Job Creation Integer The sum of the Job Creation Rate minus the Job Destruction Rate. 46776
Data.Calculated.Net Job Creation Rate Float The sum of the Job Creation Rate and the Job Destruction Rate, minus the Net Job Creation Rate. 5.0
Data.Calculated.Reallocation Rate Float The sum of the Job Creation Rate and the Job Destruction Rate, minus the absolute Net Job Creation Rate. 31.0
Data.Establishments.Entered Integer The number of establishments that entered during this time. Entering occurs when an establishment did not exist in the previous year. 10634
Data.Establishments.Entered Rate Float The number of establishments that entered during this time divided by the number of establishments. Entering occurs when an establishment did not exist in the previous year. 17.2
Data.Establishments.Exited Integer The number of establishments that exited during this time. Exiting occurs when an establishment has positive employment in the previous year and zero this year. 8057
Data.Establishments.Exited Rate Float The number of establishments that exited during this time divided by the number of establishments. Exiting occurs when an establishment has positive employment in the previous year and zero this year. 13.1
Data.Establishments.Physical Locations Integer The number of establishments in this region during this time. 62852
Data.Firm Exits.Count Integer The number of firms that exited this year. 5623
Data.Firm Exits.Establishment Exit Integer The number of establishments exited because of firm deaths. 5641
Data.Firm Exits.Job Destruction Integer The number of jobs destroyed as a result of firm deaths. 36602
Data.Job Creation.Births Integer The number of jobs that were created because of firm births in the past year. 89869
Data.Job Creation.Continuers Integer The number of jobs at continuing establishments that were created in the last yaer. 101653
Data.Job Creation.Count Integer The number of jobs that were created in the last year. 191522
Data.Job Creation.Rate Float The number of jobs that were created in the last year divided by the DHS denominator. The result is the rate at which jobs have been created. 20.5
Data.Job Creation.Rate/Births Float The number of jobs that were created because a new firm born in the past year, divided by the DHS denominator. The result is the rate at which jobs have been created because of firm births. 9.6
Data.Job Destruction.Continuers Integer The number of jobs at continuing establishments that were destroyed in the last year. 85855
Data.Job Destruction.Count Integer The number of jobs that were destroyed in the last year. 144746
Data.Job Destruction.Deaths Integer The number of jobs that were destroyed because of firm deaths that were destroyed in the last year. 58891
Data.Job Destruction.Rate Float The number of jobs that were destroyed in the last year divided by the DHS denominator. The result is the rate at which jobs have been destroyed. 15.5
Data.Job Destruction.Rate/Deaths Float The number of jobs that were destroyed because of firm deaths that were destroyed in the last year divided by the DHS denominator. The result is the rate at which jobs have been destroyed because of firm death. 6.3