The past two years have brought an unprecedented shakeout in the labor market. During what has been called the Great Resignation, Americans have quit their jobs in record numbers — more than 4.5 million in November 2021 alone, double the number a decade ago.
Meanwhile, the number of new businesses being created has been on the rise. According to the U.S. Census Bureau, more than 4.4 million new businesses were created in the U.S. in 2020 — the highest total ever on record, representing a 24.3% increase from 2019 and 51% higher than the 2010-19 average, according to data from the U.S. Census Bureau analyzed by the Economic Innovation Group. What's more, 2021 might have beat that record.
