The Business Formation Statistics (BTOS) data provides a comprehensive representation of all employer businesses in the U.S. economy, excluding farms. This data is crucial for policymakers and businesses alike as it offers valuable insights into the state of the economy by providing continuous, timely updates on key economic measures every two weeks.
With detailed geographic and subsector information, BTOS is able to capture the impact of significant events such as natural disasters and economic crises, as well as assist in monitoring recovery efforts. The sample size of around 1.2 million businesses surveyed biweekly ensures that the data is representative and reliable.
Each panel in the BTOS sample contains approximately 200,000 cases that report every 12 weeks for a year. On average, it takes respondents about nine minutes to complete the survey, which includes reviewing instructions and answering questions.
The data collected from BTOS is released biweekly and can be accessed by sector, state, and the 25 most populous metropolitan statistical areas. This information is instrumental for policymakers and businesses to make informed decisions and aid in decision-making processes.
In conclusion, the Business Formation Statistics (BTOS) data plays a vital role in understanding the U.S. economy’s health by providing continuous updates on key economic measures every two weeks with detailed geographic and subsector information.
