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_______________________________

Institute for Workplace Studies----------------- Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor---------------------- Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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BUSINESS EMPLOYMENT DYNAMICS:  THIRD QUARTER 2012 [1 May 2013]

http://www.bls.gov/news.release/cewbd.nr0.htm

or

http://www.bls.gov/news.release/pdf/cewbd.pdf

[full-text, 17 pages]

and

Supplemental Files Table of Contents

http://www.bls.gov/web/cewbd.supp.toc.htm

 

 

From June 2012 to September 2012 gross job gains from opening and

expanding private sector establishments were 6.8 million, a decrease

of 191,000 jobs 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 6.6 million,

an increase of 192,000 jobs from the previous quarter.

 

The difference between the number of gross job gains and the number

of gross job losses yielded a net employment gain of 199,000 jobs in

the private sector during the third 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. Gross job gains

are the sum of increases in employment from expansions 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. The difference between the number of

gross job gains and the number of gross job losses is the net change

in employment. (See the Technical Note for more information.)

 

The BED data series include gross job gains and gross job losses at the

establishment level by industry subsector and for the 50 states, the

District of Columbia, Puerto Rico, and the Virgin Islands, as well as

gross job gains and gross job losses at the firm level by employer size

class.

 

Gross job gains at expanding establishments totaled 5.5 million in

third quarter 2012, a decrease of 199,000 jobs from the previous

quarter.

 

Opening establishments accounted for 1.3 million jobs gained in third

quarter 2012, an increase of 8,000 jobs from the previous quarter.

 

Contracting establishments lost 5.4 million jobs in third quarter

2012. This is an increase of 173,000 jobs from the prior quarter.

 

In third quarter 2012, closing establishments lost 1.2 million jobs,

an increase of 19,000 from the previous quarter.  (See tables 1 and 3.)

 

Gross job gains represented 6.2 percent of private sector employment

in third quarter 2012, while gross job losses represented 6.0 percent

of private sector employment.  (See table 2.)

 

In third quarter 2012, the number of establishment births (a subset of

the openings data, see the Technical Note for more information)

increased by 2,000 to 193,000. These new establishments accounted for

789,000 jobs, an increase of 30,000 from the previous quarter. 

(See table 8.)

 

Data for establishment deaths (a subset of the closings data) are

available through fourth quarter 2011, when 750,000 jobs were lost at

191,000 establishments. These figures represent increases from the

prior quarter when 674,000 jobs were lost at 187,000 establishments.

 

During third quarter 2012, gross job losses exceeded gross job gains

in six industry sectors: natural resources and mining; retail trade;

utilities; information; leisure and hospitality; and other services.

The education and health services sector experienced net gains of

91,000 jobs, an increase of 73,000 jobs from the prior quarter. This

represents the largest over the quarter net employment change of all

industry sectors. (See table 3.)

 

Gross job gains decreased and gross job losses increased in all three

major firm size classes during the third quarter 2012. However, only

the smallest size class (firms with 1-49 employees) experienced a net

job loss, where gross job losses exceeded gross job gains by 3,000

jobs. The largest size class (firms with 250 or more employees)

experienced a net employment gain of 133,000 jobs, accounting for

79 percent of the total net change in employment for third quarter

2012.  (See tables 4 and 5.)

 

AND MORE...including TABLES....

 

 

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