Figure 2. Solo-type business applications diverged after 2024

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AI-exposed sectors include Professional Services, Information, Education, and Finance and Insurance. The comparison group includes Construction and Wholesale Trade. The vertical line marks Q1 2024. Solo-type business applications are an author-constructed proxy calculated as total business applications minus high-propensity business applications. The measure captures applications without the characteristics the Census Bureau associates with near-term employer formation; it is not a direct count of realized solo businesses

Chart: Liya PalagashviliSource: U.S. Census Bureau, Business Formation Statistics (BFS)