August 19, 2008
From September to December 2007, the number of job gains from opening and expanding private sector establishments was 7.7 million, and the number of job losses from closing and contracting establishments was 7.3 million.
Opening and expanding private sector business establishments gained 7.7 million jobs in the fourth quarter of 2007, an increase of 401,000 from the previous quarter. Over the quarter, expanding establishments added 6.2 million jobs while opening establishments added 1.4 million jobs.
Gross job losses totaled 7.3 million, a decrease of 151,000 from the previous quarter. During the quarter, contracting establishments lost 6.0 million jobs, while closing establishments lost 1.3 million jobs.
From September to December 2007, gross job gains represented 6.8 percent of private sector employment, while gross job losses represented 6.5 percent of private sector employment.
These data are from Business Employment Dynamics. Data presented here are for workers in private industry covered by State unemployment insurance programs. Find more in "Business Employment Dynamics: Fourth Quarter 2007," (PDF) (HTML) news release USDL 08–1141. Gross job gains are the sum of increases in employment from expansions in employment at existing units and the addition of new jobs at opening units. Gross job losses are the result of contractions in employment at existing units and the loss of jobs at closing units.