The Big Companies Did It

Michael Mandel

We all thought (myself included) that the wellspring of economic growth in the New Economy boom of the 1990s was small innovative companies. We celebrated the eBays and the Yahoos of the world, and told a compelling story about the little guys taking on the big guys. Entrepreneurs rule!

Well, the Bureau of Labor Statistics has just published some new data on job creation, and it looks like the New Economy employment boom was driven by big companies--those with over 500 workers. Take a look at this chart.

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