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FRED Adds Monthly Business Formation Statistics Data

The U.S. Census Bureau has updated their Business Formation Statistics (BFS) release, and FRED now includes new monthly data starting in July 2004 (including new data for U.S. Census regions and national data by two-digit NAICS codes).

Quarterly data have been discontinued and replaced with similar monthly data. These monthly series can be found within the notes of the quarterly series. FRED also allows aggregation of data through the “Edit Graph” panel’s “Modify frequency” menu.

The BFS release

  • provides timely and high-frequency data on business applications and employer business formations
  • measures business initiation activity (Business Application Series) as indicated by applications for an employer identification number (EIN) on the IRS Form SS-4
  • provides information on actual and projected employer business formations that originate from these applications, based on the record of first payroll tax liability for an EIN
  • contains measures of delay in business starts as indicated by the average duration between the application for an EIN and the transition to an employer business

For more information, see the U.S. Census’s FAQs.

Posted in FRED Announcements