Ritter Group Benefits From That Private Equity-Backed Companies Employ More Than 6M Americans
This report is the first to quantify the scope and scale of private equity employment in the United States.
- (1888PressRelease) March 31, 2011 - A recent study viewed by Ritter Group and done by the Private Equity Council reports that more than six million Americans are employed by private equity backed companies. This accounts for more than five percent of all private-sector workers.
This report is the first to quantify the scope and scale of private equity employment in the United States. The Private Equity Council also found that private equity investment firms channeled more than $1 trillion in new capital into nearly 9,500 U.S. companies during the past 10 years. More than 2,500 of the private equity-backed businesses in the U.S. - or 30 percent - are manufacturers. Together, they employ at least 1.3 million workers.
The six million jobs total is based on actual employment reports from 3,650 - or 39 percent - of the 9,473 private equity-backed companies headquartered in the United States. Using data sampling and analysis techniques similar to those employed by the U.S. Bureau of Labor Statistics to estimate U.S. employment and payroll, the PEC estimates that the actual number of employees at all U.S. private equity-backed companies - including the companies that did not report employment data - is approximately 10.9 million.
This analysis shows that private equity firms - and the companies in which they invest - are critically important to the American economy. The $1 trillion that private equity firms have invested in American companies in the past 10 years has provided important and direct benefits for millions of Americans. This directly benefits Ritter Group who are currently expanding. Hence; recruitment of talented and experienced people from America will be made easier than from other continents. It's also a positive sign that the market as such still employs this many people.
About Ritter Group:
Ritter Group is a premier provider of seed and early stage venture capital for innovative companies. Ritter Group works tirelessly to be the best across a global market and global technology areas including Biotechnology, Clean-tech, Information technology, Telecommunications, Diagnostic technology and Medical technology. Ritter Group provides unparalleled help and trusted advice across key aspects of company building including strategy, recruiting and business development.
Press Contact:
Barbara Gould, Ritter Group Media Coordinator, press ( @ ) rittergroup dot com
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