Quarterly Data Series on Business Employment Dynamics News Release — 2012-11-16

From December 2011 to March 2012 gross job gains from opening and expanding private sector establishments were 6.9 million, an increase of 26,000 from the previous quarter, the U.S. Bureau of Labor Statistics reported today. Over this period, gross job losses from closing and contracting private sector establishments were 6.1 million, a decrease of 399,000 from the previous quarter. The difference between the number of gross job gains and the number of gross job losses yielded a net employment change of 814,000 jobs in the private sector during the first quarter of 2012. (See table 1.) 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. Business Employment Dynamics (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.