Business Employment Dynamics: Second Quarter 2004 — 2005-02-15

From March to June 2004, the number of job gains from opening and expanding establishments was 7.9 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. During the second quarter of 2004, the continued rise in gross job gains and a drop in gross job losses led to the fourth consecutive quarterly net gain in private sector employment. 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 expansions 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.