07/04/2022

Gross job gains 7.3 million and gross job losses 6.7 million in the 1st quarter of 2017

BUSINESS EMPLOYMENT DYNAMICS – FIRST QUARTER 2017  From December 2016 to March 2017, gross job gains from opening and expanding private-sector  establishments were 7.3 million, a decrease of 127,000 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 6.7 million, a decrease of 391,000 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 654,000 jobs in the private-sector during the first 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.
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