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 January 26, 2015).
Three recent editions of Spotlight on Statistics
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.
Women veterans in the labor force examines the demographic, employment, and unemployment characteristics of women veterans.
BLS Statistics by Occupation provides an overview of occupational employment and wages with an emphasis on STEM jobs and occupational data by typical entry-level education required.