Big Companies Scoop Up More Workers

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NYT writer David Leonhardt grabbed his shovel, strapped on his oxygen mask, and went down the rabbit hole, analyzing an obscure Census dataset on the size of businesses in America.

And when he emerged months later (slightly woozy, but coherent), he found an interesting trend:

• In 1989, small companies (fewer than 50 workers) employed 32.4% of American workers. In 2014? That fell to ~27%.
• Where'd they go? Huge companies. In 2014, firms with over 10,000 workers employed 28% of all workers, a big jump from 24% in 1989.

Leonhardt paints the picture: "The hardware store has given way to The Home Depot. The local hospital and bank are owned by a chain. The supermarket is Whole Foods, which is now owned by Amazon."

Bottom line: Leonhardt worries that the balance is shifting too far in favor of the giants, which could spell bad news for worker pay, consumer prices, and effective policy.

+ In the spirit of debate: Why we're wrong to vilify big business.

https://morningbrew.cmail19.com/t/j-l-ngkrhd-yhyuhjkhdk-jt/