In 2011, first quarter gross job losses at lowest level since series began in 1992
November 25, 2011
In the first quarter of 2011, the number of gross job gains from opening and expanding private sector establishments was 6.3 million, a decrease of 671,000 jobs compared to the previous quarter. Over the same period, gross job losses from closing and contracting private sector establishments fell to 6.1 million, the lowest level since this data series began in September 1992.
Job gains at expanding establishments fell to 5.2 million in first quarter 2011, a decrease from the previous quarter's gain of 5.6 million.
Opening establishments gained 1.1 million jobs in first quarter 2011, a decrease from the previous quarter when opening establishments created 1.4 million jobs. This is the smallest number of jobs gained at opening establishments since the data series began in September 1992.
Contracting establishments lost 5.0 million jobs in the first quarter of 2011. This is the smallest number of jobs lost at contracting establishments since the series began in September 1992.
In the first quarter of 2011, closing establishments lost 1.1 million jobs, a decline from the previous quarter. This is the smallest number of jobs lost at closing establishments since the series began in September 1992.
The difference between the number of gross job gains and the number of gross job losses yielded a net change of 252,000 jobs in the private sector during the first quarter of 2011.
These data are from the Business Employment Dynamics (BED) program. The change in the number of jobs over time is the net result of increases and decreases in employment that occur at all businesses in the economy. BED statistics track these changes in employment at private business units from the third month of one quarter to the third month of the next. To learn more, see "Business Employment Dynamics — First Quarter 2011" (HTML) (PDF), news release USDL-11-1646.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, In 2011, first quarter gross job losses at lowest level since series began in 1992 on the Internet at http://www.bls.gov/opub/ted/2011/ted_20111125.htm (visited October 24, 2014).
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