Job losses decline in the third quarter of 2009
May 25, 2010
The number of gross job losses from private sector closing and contracting establishments fell to 7.3 million in the third quarter of 2009, a decline of 739,000 from the previous quarter. This is the largest over-the-quarter decrease in gross job losses since the series began in 1992.
The difference between the number of gross job gains and the number of gross job losses in the private sector yielded a net change of ‑964,000 jobs.
From June to September 2009, the number of gross job gains from opening and expanding private sector establishments was 6.3 million.
- Opening establishments gained 1.2 million jobs, a decrease of 120,000 jobs from the previous quarter.
- Expanding establishments gained 5.1 million jobs, essentially the same number as in the previous quarter.
The number of gross job losses from private sector closing and contracting establishments was 7.3 million (a decline of 739,000 from the previous quarter, as mentioned above).
- Closing establishments lost 1.4 million jobs, little changed from the previous quarter.
- Contracting establishments lost 5.9 million jobs in the third quarter of 2009, a decrease of 746,000 job losses compared to the 6.6 million jobs lost in the previous quarter.
These data are from the Business Employment Dynamics program. For more information, see "Business Employment Dynamics — Third Quarter 2009" (HTML) (PDF), news release USDL-10-0687. Gross job gains are the sum of increases in employment from expansions at existing units and the addition of new jobs at opening units. Gross job losses are the result of contractions in employment at existing units and the loss of jobs at closing units. The difference between the number of gross jobs gained and the number of gross jobs lost is the net change in employment.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Job losses decline in the third quarter of 2009 on the Internet at http://www.bls.gov/opub/ted/2010/ted_20100525.htm (visited February 07, 2016).