Business Employment Dynamics: Third Quarter 2003 — 2004-05-20

From June to September 2003, the number of job gains from opening and expanding establishments was 7.4 million, and the number of job losses from closing and contracting establishments was 7.3 million, according to preliminary data released today by the Bureau of Labor Statistics of the U.S. Department of Labor. This release of the Business Employment Dynamics series includes major industry sectors for the first time. During the third quarter of 2003, gross job losses exceeded gross job gains in goods-produc- ing sectors, while gross job gains surpassed gross job losses in service- providing sectors. Business Employment Dynamics statistics are derived from the Quarterly Census of Employment and Wages (QCEW), also known as the ES-202 program. Gross job gains are defined as increases in employment resulting from ex- pansions of employment at existing establishments or from the opening of establishments. Gross job losses are defined as declines in employment at existing establishments or from the closing of establishments.