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Job Creation, Job Destruction and the Role of Small Firms: Firm-Level Evidence for the UK

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  • Alex Hijzen,
  • Richard Upward,
  • Peter Wright

Abstract

Evidence on job creation and destruction for the UK is still limited compared to that available from other countries. What evidence there is refers almost entirely to the manufacturing sector, with the most recent figures referring to the 1980s. There are therefore no recent estimates for the great majority of firms in the UK . In this paper we use firm-level data from 1997–2005 to calculate job creation and destruction rates for almost all sectors, including services. We show that firms in the service sector exhibit much higher rates of job creation and slightly higher rates of job destruction. One-third of new jobs are created by the entry of new firms, while half of lost jobs are destroyed by the exit of firms. “Small” firms (those with fewer than 100 employees) account for a disproportionately large fraction of job creation and destruction relative to their share of employment. This finding is robust to the definition of firm size used.

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Bibliographic Info

Paper provided by University of Nottingham, GEP in its series Discussion Papers with number 07/01.

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Handle: RePEc:not:notgep:07/01

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Keywords: Job creation; job destruction; small firms;

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. In defence of the inflation target
    by chris dillow in Stumbling and Mumbling on 2008-09-23 16:23:58
  2. Job insecurity: what's the problem?
    by chris dillow in Stumbling and Mumbling on 2008-08-31 12:43:39
  3. The state as risk manager
    by chris dillow in Stumbling and Mumbling on 2013-01-23 12:34:43
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Cited by:
  1. repec:ldr:wpaper:92 is not listed on IDEAS
  2. Chiara Criscuolo & Peter N. Gal & Carlo Menon, 2014. "The Dynamics of Employment Growth: New Evidence from 18 Countries," CEP Discussion Papers dp1274, Centre for Economic Performance, LSE.
  3. Oliver Ludewig & Antje Weyh, 2011. "Die regionale Arbeitsplatzdynamik in Deutschland – Mehr Bewegung im Osten," Jahrbuch für Regionalwissenschaft, Springer, vol. 31(1), pages 27-56, June.
  4. Salem Abo-Zaid, 2014. "Net job creation in the US economy: lessons from monthly data, 1950-2011," Applied Economics, Taylor & Francis Journals, vol. 46(22), pages 2623-2638, August.
  5. Mário Centeno & Álvaro A. Novo & Carla Machado, 2007. "Job Creation and Destruction in Portugal," Economic Bulletin and Financial Stability Report Articles, Banco de Portugal, Economics and Research Department.
  6. Mário Centeno & Álvaro A. Novo & Carla Machado, 2008. "The Anatomy of Employment Growth in Portuguese Firms," Economic Bulletin and Financial Stability Report Articles, Banco de Portugal, Economics and Research Department.
  7. Marco Corsino & Roberto Gabriele & Sandro Trento, 2010. "Job flows in Italian SMEs: a longitudinal analysis of growth, size and age," DISA Working Papers 1008, Department of Computer and Management Sciences, University of Trento, Italy, revised 22 Dec 2010.

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