Study: Quarterly business and employment dynamics: Experimental estimates, first quarter 2001 to third quarter 2014
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Since the start of the last recession, the entry rates of new firms as well as the jobs created by these firms slowed relative to the pre-recession period. From the first quarter of 2001 to the third quarter of 2008, the average annualized quarterly job creation rate by new firms was 2.3%, compared with 1.5% for the period from the fourth quarter of 2008 to the third quarter of 2014. The entry rate of businesses showed a similar, but less pronounced, pattern. Before the third quarter of 2008, the average annualized quarterly entry rate of businesses was 15.2%, compared with the post-recession average of 13.6%.
Since the late 1980s, Statistics Canada has produced annual statistics on business entry and exit, and job creation and job destruction from its Longitudinal Employment Analysis Program (LEAP). However, the time lag between the end of the year and the production of statistics is substantial. For example, the 2013 LEAP data will not be available until the summer of 2015. The quarterly experimental estimates meet a need for timelier, sub-annual indicators of business and employment dynamics.
The data are available from the first quarter of 2001 to the third quarter of 2014, and pertain to all industrial sectors except those primarily involved in educational services, health care and social assistance as well as public administration.
In the third quarter of 2014, the job creation and entry rates were 1.6% and 13.5% respectively, similar to the post-recession averages but up from the recent lows of 1.4% for job creation observed in the fourth quarter of 2012, and 12.8% for entry in the first quarter of 2013.
Note to readers
Users can also obtain upon request data tables of the quarterly estimates of employer business entries and exits by industry, and their associated job creation and destruction, for the first quarter of 2001 to the third quarter of 2014.
The research article "Quarterly Business and Employment Dynamics: Experimental Estimates, First Quarter 2001 to Third Quarter 2014" is now available as part of Economic Insights (Catalogue number11-626-X) from the Browse by key resource module of our website under Publications.
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