When it comes to the number of business locations and of employment, things seem to be on the upswing, at least as of the most recent findings from September 2021, according to data from the Bureau of Labor Statistics. But good news on average for business locations, which should roughly track with office and retail use, isn't cheerful for all cities or counties.
In the third quarter of 2020, the number of establishments was about 10.56 million. The same period in 2021 showed 11.02 million, or an increase of almost 4.4%. Similarly, the number of people employed was just short of 144.9 million, or again a 4.4% increase. The average weekly income was up 6.7% to $1,251.
However, averages aren't everything or everyone, and trying to understand the mechanisms is important. First, look at the breakout by geographic sector. An analysis by the Economic Innovation Group (EIG) found that "total business establishments nationwide stood 7 percent above their pre-pandemic levels as of the third quarter of 2021," which is a comparison between the third quarters of 2019 and 2021 (6.7% difference).
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