Job losses and gains in the third quarter of 2007
May 22, 2008
From June 2007 to September 2007, the number of job gains from opening and expanding private sector establishments was 7.2 million, and the number of job losses from closing and contracting establishments was 7.5 million.
Opening and expanding private sector business establishments gained 7.2 million jobs in the third quarter of 2007, a decrease of 395,000 from the previous quarter. Over the quarter, expanding establishments added 5.8 million jobs, while opening establishments added 1.4 million jobs.
Gross job losses totaled 7.5 million, an increase of 81,000 from the previous quarter. During the quarter, contracting establishments lost 6.1 million jobs, while closing establishments lost 1.4 million jobs.
The difference between the number of gross jobs gained and the number of gross jobs lost yielded a net change of -235,000 jobs in the private sector for third quarter 2007. This is the first quarter of net job losses since the second quarter of 2003.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Job losses and gains in the third quarter of 2007 on the Internet at http://www.bls.gov/opub/ted/2008/may/wk3/art04.htm (visited October 07, 2015).
Recent editions of Spotlight on Statistics
New estimates of personal taxes in Consumer Expenditure Survey
In 2013, the Consumer Expenditure Survey improved its personal tax data.
Trends in long-term unemployment
Long-term unemployment reached historically high levels following the recession of 2007–2009.
Housing: before, during, and after the Great Recession
looks at consumer expenditures on household items, employment in residential construction, prices for household items, and injuries in occupations involved in building and maintaining our homes.