Quarterly Data Series on Business Employment Dynamics News Release — 2011-02-01

From March to June 2010 the number of gross job gains from opening and expanding private sector establishments increased to 6.9 million, the U.S. Bureau of Labor Statistics reported today. Over this period, gross job losses from closing and contracting private sector establishments were 6.2 million. Job losses have steadily decreased from a recent high of 8.5 million in December 2008 to the lowest level since the series began in September 1992. In the second quarter 2010 the net change in employment was 728,000. This represents the first positive net employment change since the recession began in December 2007 and the largest since March 2006. 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.