Please try another search
© Reuters. A hiring sign is seen at the entrance to Burger Boy restaurant, as many restaurant businesses face staffing shortages in Louisville, Kentucky, U.S., June 7, 2021. Picture taken June 7, 2021. REUTERS/Amira Karaoud
By Evan Sully
(Reuters) - Applications to start new U.S. businesses dropped sharply in June, falling for the first time since February.
The Commerce Department said on Thursday that business applications decreased 9.8% to a seasonally adjusted 448,553 last month. The data is derived from business applications for tax identifications.
There were a seasonally adjusted 51,543 applications from corporations, down 1.6% from May. Applications for businesses with planned wages totaled 52,325, a decrease of 7.6% from the prior month.
Business applications fell in all four U.S. regions, led by a 12.25 drop in the Midwest last month and were lower across all industries.
The largest drop was in mining, which recorded a 25.7% decline, with other sizable drops in ,accommodation and food services as well as the administrative and support category.
Based on June's figures, the Commerce Department's Census Bureau, which compiles the data, projected about 32,990 new business start-ups with payroll tax liabilities would form within four quarters of application, down 6.9% compared with the estimates for May.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.