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12 publicationsNew York Led the U.S. in High-Propensity Application Share at 41.4%
New York ranked first in July 2026 with 41.4% of its business applications classified as high propensity. Mississippi ranked last at 18.2%, a 23.3 percentage-point gap. The U.S. share was 26.2%.
Hourly Compensation Costs Were 82% Higher at the Largest Private Establishments
Private establishments with 500 or more workers averaged $68.03 in compensation costs per employee hour in March 2026. That was 82.1% above the $37.36 average at establishments with 1 to 49 workers. Benefit costs were 147.4% higher.
Professional Services Had 5.1 Times Retail's Trade Receivables Per Revenue Dollar
Professional services had $22.11 in trade receivables for each $100 of trailing revenue. Retail had $4.30. That is a 5.1 times gap.
Health Care Payroll Was 39.7% of Receipts — 6.4 Times Wholesale Trade
Payroll was 39.7% of receipts in Health Care and Social Assistance. In Wholesale Trade, it was 6.3%. That made the first rate 6.4 times as high.
North Dakota Had the Highest Share of Business Applications With Planned Wages
North Dakota ranked first among the 50 states. 12.0% of its business applications listed a date to start paying wages. Wyoming ranked last at 3.5%.
Majority Women-Owned Firms Made Up 19.4% of SBA 7(a) Approvals but 14.6% of Approval Dollars in FY2025
Majority women-owned firms made up 19.4% of SBA 7(a) approvals in FY2025. Their share of approval dollars was 14.6%. RecurSave calculated the shares from U.S. Small Business Administration FY2025 year-end 7(a) approval count and approval amount data.
Florida Led Business Applications but Ranked 41st on a Key Census Measure
Florida had 65,332 business applications in July 2026, more than any other state. Census projects 2,773 new employer firms from those applications within one year, or 4.24 per 100 applications. Florida ranked 41st among the 50 states on that measure.
Retail Business Applications Rose 47.7% in a Year — 43.1% of the U.S. Increase
Retail Trade had 161,695 U.S. business applications in July 2026. It had 109,480 in July 2025. The increase was 52,215 applications, or 47.7%. Retail made up 43.1% of the net U.S. increase.
U.S. Establishment Births Rose 25.7%, but Jobs per Establishment Birth Fell 11.3%
U.S. private-sector establishment births rose from 269,000 in Q4 2019 to 338,000 in Q4 2025. Jobs per establishment birth fell from 3.36 to 2.98.
Trade Working Capital-to-Sales: Aerospace Was 8.3 Times Motor Vehicles in Q1 2026
Aerospace Products and Parts had trade working capital equal to 45.9% of trailing 12-month sales in Q1 2026. Motor Vehicles and Parts was 5.5%. The aerospace ratio was 8.3 times as high. RecurSave calculated the figures from U.S. Census Quarterly Financial Report data.
46% of U.S. Iron and Steel Mill Firms Had No Paid Employees in 2023 — Their Share of Sales, Shipments or Revenue Was 0.02%
The U.S. Census Bureau reports 326 firms in Iron and Steel Mills and Ferroalloy Manufacturing in 2023. Of those, 150 had no paid employees. Those firms made up 46% of the firm count but accounted for only 0.02% of sales, value of shipments, or revenue.
The South Had 52.9 Business Applications per 1,000 Establishments in June — 51% More Than the Northeast
The South had 52.9 business applications per 1,000 covered establishments in June 2026, using the latest available Q4 2025 QCEW establishment base. That was the highest rate among the four U.S. Census regions and about 51% higher than the Northeast. RecurSave calculated the regional rates from U.S. Census Bureau Business Formation Statistics and U.S. Bureau of Labor Statistics QCEW data.