Gross job gains 7.7 million and gross job losses 7.0 million in the 3rd quarter of 2016
Source: U.S. Bureau of Labor Statistics
Economic News Release USDL-17-0476
Business Employment Dynamics Summary
For release 10:00 a.m. (EDT), Wednesday, April 26, 2017
Technical Information: (202) 691-6553 * BDMInfo@bls.gov * www.bls.gov/bdm
Media Contact: (202) 691-5902 * PressOffice@bls.gov
BUSINESS EMPLOYMENT DYNAMICS THIRD QUARTER 2016
From June 2016 to September 2016, gross job gains from opening and expanding private-sector establishments were 7.7 million, an increase of 187,000 jobs over the quarter, the U.S. Bureau of Labor Statistics reported today. Over this period, gross job losses from closing and contracting private-sector establishments were 7.0 million, a decrease of 194,000 jobs from the previous quarter. The difference between the number of gross job gains and the number of gross job losses yielded a net employment gain of 688,000 jobs in the private-sector during the third quarter of 2016. (See tables A and 1.)
The change in the number of jobs over time is the net result of increases and decreases in employment that occur at all private businesses in the economy. Business Employment Dynamics (BED) statistics track these changes in employment at private-sector establishments from the third month of one quarter to the third month of the next. The difference between the number of gross job gains and the number of gross job losses is the net change in employment. (See Technical Note.) The BED data series include gross job gains and gross job losses by industry subsector, 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 class.
Gross Job Gains
In the third quarter of 2016, gross job gains represented 6.4 percent of private-sector employment. Gross job gains are the sum of increases in employment due to expansions at existing establishments and the addition of new jobs at opening establishments. Gross job gains at expanding establishments totaled 6.2 million in the third quarter of 2016, an increase of 151,000 compared to the previous quarter. Opening establishments accounted for 1.4 million of the jobs gained in the third quarter of 2016, an increase of 36,000 jobs from the previous quarter. (See tables A, 1, 2, and 3.)
Gross Job Losses
In the third quarter of 2016, gross job losses represented 5.8 percent of private-sector employment. Gross job losses are the result of contractions in employment at existing establishments and the loss of jobs at closing establishments. Contracting establishments lost 5.7 million jobs in the third quarter of 2016, a decrease of 109,000 jobs from the prior quarter. In the third quarter of 2016, closing establishments lost 1.2 million jobs, a decrease of 85,000 jobs from the previous quarter. (See tables A, 1, 2, and 3.)
....
For More Information
Additional information on gross job gains and gross job losses is available online at www.bls.gov/bdm. This information includes data on the levels and rates of gross job gains and gross job losses by firm-size, not seasonally adjusted data and other seasonally adjusted time series not presented in this release, charts of gross job gains and gross job losses by industry and firm-size, and frequently asked questions on firm-size data. Additional information about the Business Employment Dynamics data can be found in the Technical Note of this release or can be obtained by emailing BDMinfo@bls.gov.
The Business Employment Dynamics for Fourth Quarter 2016 are scheduled to be released on Wednesday, July 26, 2017 at 10:00 a.m. (EDT).
Read more: https://www.bls.gov/news.release/cewbd.nr0.htm
[center]Facilities for Sensory Impaired[/center]
Information from this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339.
* * * * * *
These BLS reports can be dry, so I generally refrain from posting them at LBN. This sort of report, however, will end up being misinterpreted in tweet storms ("We lost 7 million jobs under Obama in three months alone. SAD!!! Then I was elected, by the biggest margin ever!!! Now everything very, very better!!!!"
, so I'm putting this one in LBN.
= new reply since forum marked as read
