New business applications, monthly
This chart tracks monthly U.S. applications for employer identification numbers. It uses Census Business Formation Statistics and measures applications rather than confirmed startups, operating businesses, or firms that ultimately hire employees.
What does it show?
Business applications remain structurally higher than before 2020 despite cooling from their peak.
Methodology
Monthly U.S. Business Applications from Census Business Formation Statistics (`BA_BA`, category TOTAL, time slot 0), seasonally adjusted. Published application counts are divided by 1,000 and displayed in thousands. Applications are filings for employer identification numbers, not confirmed business formations or firms with employees.