The rates of business openings (4.7%) and closures (4.6%) both edged down 0.1 percentage points in May, returning to pre-COVID-19 pandemic levels.
As there were more openings than closures, the number of active businesses grew by 0.2% (+1,645) in May, following three consecutive months of contraction. In the same month, payroll employment (excluding federal government public administration) rose 0.1%, and real gross domestic product grew 0.3%.
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