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BLS Report: Gross job gains 7.8 million and gross job losses 6.8 million in the 4th quarter of 2017
Gross job gains 7.8 million and gross job losses 6.8 million in the 4th quarter of 2017
Economic News Release USDL-18-1210
Business Employment Dynamics Summary
For release 10:00 a.m. (EDT), Wednesday, July 25, 2018
Technical Information: (202) 691-6553 * BDMInfo@bls.gov * www.bls.gov/bdm
Media Contact: (202) 691-5902 * PressOffice@bls.gov
BUSINESS EMPLOYMENT DYNAMICS – FOURTH QUARTER 2017
From September 2017 to December 2017, gross job gains from opening and expanding private-sector establishments were 7.8 million, an increase of 537,000 jobs gained 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 6.8 million, a decrease of 602,000 jobs lost 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 999,000 jobs in the private sector during the fourth quarter of 2017. (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 fourth quarter of 2017, 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 6.4 million in the fourth quarter of 2017, an increase of 426,000 compared to the previous quarter. Opening establishments accounted for 1.4 million of the jobs gained in the fourth quarter of 2017, an increase of 111,000 jobs from the previous quarter. (See tables A, 1, 2, and 3.)
Gross Job Losses
In the fourth quarter of 2017, gross job losses represented 5.5 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 5.5 million jobs in the fourth quarter of 2017, a decrease of 576,000 jobs from the prior quarter. In the fourth quarter of 2017, closing establishments lost 1.3 million jobs, a decrease of 26,000 jobs from the previous quarter. (See tables A, 1, 2, and 3.)
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The Business Employment Dynamics for First Quarter 2018 are scheduled to be released on Wednesday, November 7, 2018 at 10:00 a.m. (EST).
Economic News Release USDL-18-1210
Business Employment Dynamics Summary
For release 10:00 a.m. (EDT), Wednesday, July 25, 2018
Technical Information: (202) 691-6553 * BDMInfo@bls.gov * www.bls.gov/bdm
Media Contact: (202) 691-5902 * PressOffice@bls.gov
BUSINESS EMPLOYMENT DYNAMICS – FOURTH QUARTER 2017
From September 2017 to December 2017, gross job gains from opening and expanding private-sector establishments were 7.8 million, an increase of 537,000 jobs gained 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 6.8 million, a decrease of 602,000 jobs lost 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 999,000 jobs in the private sector during the fourth quarter of 2017. (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 fourth quarter of 2017, 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 6.4 million in the fourth quarter of 2017, an increase of 426,000 compared to the previous quarter. Opening establishments accounted for 1.4 million of the jobs gained in the fourth quarter of 2017, an increase of 111,000 jobs from the previous quarter. (See tables A, 1, 2, and 3.)
Gross Job Losses
In the fourth quarter of 2017, gross job losses represented 5.5 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 5.5 million jobs in the fourth quarter of 2017, a decrease of 576,000 jobs from the prior quarter. In the fourth quarter of 2017, closing establishments lost 1.3 million jobs, a decrease of 26,000 jobs from the previous quarter. (See tables A, 1, 2, and 3.)
....
_____________
The Business Employment Dynamics for First Quarter 2018 are scheduled to be released on Wednesday, November 7, 2018 at 10:00 a.m. (EST).
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Information from these releases will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339.