Notes
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The LEAP file cannot determine how much growth was due to the acquisition
of parts of other firms or the divestiture of parts of firms—only the
acquisitions or divestitures of complete firms.
The North American
Industry Classification System codes excluded are 5211, 6111 to 6113, 6211, 6214, 6219, 6221 to 6244, 8131 to 8141, 9111 to 9191.
The downward trend in
job destruction is consistent with the decrease in permanent layoff rates
observed by Morissette et al. (2011).
The United States experienced an unprecedented reduction
in job creation during the 2008/2009 recession, along with the usual
upsurge in job destruction (Haltiwanger et al. 2011).
The ALU
measure underestimates the employment of firms that are active only part of
the year. This data limitation is potentially more important for start-ups
created at the end of a calendar year, and for exits occurring in the first
months of the year.
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