Business Employment Dynamics: Third Quarter 2004 — 2005-05-24

From June to September 2004, the number of job gains from opening and expanding private sector establishments was 7.8 million, and the number of job losses from closing and contracting establishments was 7.6 million, according to data released today by the Bureau of Labor Statistics of the U.S. Department of Labor. The gap between job gains and job losses nar- rowed during the third quarter of 2004, after widening over the previous four quarters. 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. The differ- ence between the number of gross jobs gained and the number of gross jobs lost is the net change in employment.