The Economy

14 Million Jobs Created, but Trend is Down

March 23, 2011

It seemed for a while as if jobs were only being lost during the Great Recession. New data from the Census Bureau, however, shows new and expanding firms created 14 million jobs in 2009.

Robert E. Litan, , a vice president at the Kauffman Foundation, called it "heartening" that entrepreneurs were finding ways to create jobs despite the economic obstacles.

While heartening, the jobs created represented a 25% decrease in overall job creation and a 34% decline among startups compared to 2006. Job creation rates were the lowest since at least 1980.

The report notes that the poor job creation results were due to both the recession and a long-term decline in job creation. "Job creation in the post-2000 period is 13% lower than in the 1980s," the report notes. In fact, the report points out that the "United States has become both less dynamic and exhibited slower net growth over this time period."

About the Author

Steve Minter Blog | Executive Editor

Focus: Global Economy & International Trade

Email: [email protected]

Follow on Twitter: @SgMinterIW
Call: 216-931-9281

An award-winning editor, Executive Editor Steve Minter covers global economic and international trade issues, tackling subject matter ranging from manufacturing trends, public policy and regulations in developed and emerging markets to global regulation and currency exchange rates. As well, he supervises content production of all IW editorial products including the magazine, IndustryWeek.com, research and informationproducts, and executive conferences.

Before joining the IW staff, Steve was publisher and editorial director of Penton Media’s EHS Today, where he was instrumental in the development of the Champions of Safety and America’s Safest Companies recognition programs.

Steve received his B.A. in English from Oberlin College. He is married and has two children.