During the latest expansion, new establishments have accounted for a little more than 11% of all new private-sector jobs created in the U.S. During the 1990s, the figure was 15%, according to Labor Department data released Wednesday.
That may seem a small shift, but those few percentage points add up to nearly 300,000 jobs a quarter. Separate data from the Commerce Department show the trend goes back even further. The share of private firms less than a year old has dropped from more than 12% during much of the 1980s to only about 8% since 2010.
In the span of a few decades, Los Angeles area construction went from an industry that was two-thirds white, and largely unionized, to one that is overwhelmingly Latino, mostly nonunion and heavily reliant on immigrants, according to a Los Angeles Times review of federal data.
At the same time, the job got less lucrative. American construction workers today make $5 an hour less than they did in the early 1970s, after adjusting for inflation.
Tesla's electric cars feature some of the most cutting-edge technology around, so it's only fitting that the company's production line is just as futuristic.
The company's chief executive, Elon Musk, once said that Tesla's factory will eventually look like an ""alien dreadnought"", and the latest pictures show it is well on its way.
There will be no people in the production process, but there will be people working in the factory to oversee the robots and make sure everything is running at peak efficiency.
""You can’t have people in the production line itself, otherwise you drop to people speed,"" said Musk."
American retailers are closing stores at a record pace this year as they feel the fallout from decades of overbuilding and the rise of online shopping. Based on the pace so far, the brokerage estimates retailers will close more than 8,600 locations this year, which would eclipse the number of closings during the 2008 recession.
California's unemployment rate fell to 4.9 percent in March.
The state Employment Development Department said Friday the rate was down from 5 percent in February and 5.6 percent in March 2016.
The department says the state's employers added 19,300 nonfarm payroll jobs last month.