6.9 Million Job Gains from Opening and Expanding Private Sector Establishments in 1Q2012

November 16th, 2012
in econ_news, syndication

Private Sector Job Gains and Gross Job Losses - Seasonally Adjusted
March 2002 - March 2012

Follow up:

From the BLS:

From December 2011 to March 2012 gross job gains from opening and 
expanding private sector establishments were 6.9 million, an increase
of 26,000 from the previous quarter, the U.S. Bureau of Labor 
Statistics reported today. Over this period, gross job losses from 
closing and contracting private sector establishments were 6.1 million,
a decrease of 399,000 from the previous quarter.

The difference between the number of gross job gains and the number 
of gross job losses yielded a net employment change of 814,000 jobs
in the private sector during the first quarter of 2012.   

The change in the number of jobs over time is the net result of 
increases and decreases in employment that occur at all businesses 
in the economy. Business Employment Dynamics (BED) statistics track
these changes in employment at private business units from the third
month of one quarter to the third month of the next. Gross job gains
are the sum of increases in employment from expansions at existing 
units and the addition of new jobs at opening units. Gross job losses
are the result of contractions in employment at existing units and the
loss of jobs at closing units. The difference between the number of 
gross job gains and the number of gross job losses is the net change 
in employment. (See the Technical Note for more information.) 

The BED data series include gross job gains and gross job losses at the 
establishment level by industry subsector and for the 50 states, the 
District of Columbia, Puerto Rico, and the Virgin Islands, as well as 
gross job gains and gross job losses at the firm level by employer size 

Gross job gains at expanding establishments totaled 5.7 million in 
first quarter 2012, an increase of 149,000 from the previous quarter.

Opening establishments accounted for 1.2 million jobs gained in first 
quarter 2012, a decrease of 123,000 from the previous quarter.

Contracting establishments lost 4.9 million jobs in first quarter 
2012. This is a decrease of 303,000 from the prior quarter.

In first quarter 2012, closing establishments lost 1.2 million jobs, 
a decrease of 96,000 from the previous quarter.  (See tables 1 and 3.)

Gross job gains represented 6.3 percent of private sector employment 
in first quarter 2012, while gross job losses represented 5.6 percent
of private sector employment.  (See table 2.)

In first quarter 2012, the number of establishment births (a subset of 
the openings data, see the Technical Note for more information) fell by 
9,000 to 193,000. These new establishments accounted for 748,000 jobs,
a decrease of 54,000 from the previous quarter.  (See table 8.)

Data for establishment deaths (a subset of the closings data) are 
available through second quarter 2011, when 677,000 jobs were lost at 
190,000 establishments. These figures represent an increase from the
prior quarter when 610,000 jobs were lost at 184,000 establishments.  

Read the source report.

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