The Dynamics of Employment Growth

Abstract

The OECD has embarked on a distributed microdata project, called DynEmp, with the aim of providing a crosscountry evidence base for the design of well-grounded policies for employment and growth. The project has produced a new database of micro-aggregated firm-level data on employment dynamics for different groups of firms classified by size, age and sectors across 18 countries and over a ten year period. This report discusses preliminary crosscountry evidence from this rich and unique database originating from the first wave of the project (DynEmp Express). A number of findings provide useful information to help understand the persistently high unemployment levels and disappointing growth performance in many advanced economies. The evidence has to be treated as experimental and comparisons across countries should be viewed with caution, since despite careful efforts at harmonising the underlying crosscountry data, differences might still remain on how well different business registers identify firm events (e.g. births and deaths), as well as the time consistency of the data. An encouraging sign however is that the main results and within-country patterns hold across countries that use different methodologies to identify entry or exit. The aim of this first phase of the project is to describe the dynamism of different economies, focusing on the process of creative destruction, the role of young businesses for job creation, their growth dynamics and potential. Furthermore, the impact of the "Great Recession" on both creative destruction and young businesses is investigated, focusing on how the financial crisis has impacted jobs and firms in different countries and which firms have been hit hardest by the recession.

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