Source: Chamber of Commerce
Really interesting data series from the Chamber of Commerce.
I would sort this in a rather different way then they did; rather than look at this as quits as a percentage of separations I prefer to look at this data in terms of total quits. What that gives you is a snapshot of regions that are seeing a rising tide of entrepreneurship and new business development:
California leads the nation with 3.7 million quits — we can imagine how many of these are new tech startups. Same with Texas, where many tech firms have been people relocating for more space and lower taxes, especially software, PC and semiconductor businesses.
Georgia, North Carolina, and Florida have all sorts of new business development but I have seen migrations from New York and Boston to these fast-growing financial outposts with better weather than the North East.
Places like New York and Chicago, with their heavy corporate concentration, are now seeing lots of furloughed/laid-off workers launching their own businesses.
A lot of this is guesswork on my part — some enterprising grad student might want to find alternative data series to confirm or disprove these suppositions as part of your PhD program — but that is my best guess as to what is happening in these regions.
Its an interesting data series, and I am intriguing data series…
Source: Chamber of Commerce
