Quarterly Data Series on Business Employment Dynamics News Release — 2008-05-21

(NOTE: This news release was reissued on Thursday, May 22, 2008, to correct a data value shown in table A. The value for private sector contracting establishments in the fourth quarter 2006 was corrected from 6,943 to 5,943. Data in the other tables and other figures in the text were not affected by this correction.) 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, according to data released today by the Bureau of Labor Statistics of the U.S. Department of Labor. This is the first quarter since June 2003 where gross job losses have exceeded gross job gains.