It has decreased by half since then, which is a considerable drop (Chart 1). The firm exit rate has also declined—but by less—from almost 17 per cent in 1984 to about 11 per cent, according to the most recent data. The decline in entry and exit rates is also reflected in the weaker rate of labour reallocation.
4 For the past 10 years, new firms have created fewer jobs than 1 C. A. Wilkins, “Blame It on the Machines?” (speech to the Toronto Board of Trade, Toronto,  April 18, 2017). 2 S. S. Poloz, “Reconstruction: Rebuilding Business Confidence in Canada” (speech to the Oakville Chamber of Commerce, Burlington, Ontario, June 19, 2013).