Business Employment Dynamics: Third Quarter 2006 — 2007-05-16

From June 2006 to September 2006, the number of job gains from opening and expanding private sector establishments was 7.4 million, and the number of job losses from closing and contracting establishments was 7.3 million, according to data released today by the Bureau of Labor Statistics of the U.S. Department of Labor. (See table 3.) Over this period, firms with 1,000 or more employees accounted for the largest share of gross job gains (16.8 percent) and the largest share of gross job losses (16.8 percent). (See tables D and 4.) The Business Employment Dynamics (BED) data series include gross job gains and gross job losses at the establishment level by major industry sector, as well as gross job gains and gross job losses at the firm level by employer size class. 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.