Thursday, November 17, 2011 - The U.S. Bureau of Labor Statistics reported that from December 2010 to March 2011 the number of gross job gains from opening and expanding private sector establishments was 6.3 million, a decrease of 671,000 jobs compared to the previous quarter. Over the same period, gross job losses from closing and contracting private sector establishments fell to 6.1 million, the lowest level since this series began in September 1992.
Firms of all sizes experienced a decrease in gross job gains in the first quarter of 2011. Firms with less than 250 employees had the largest contribution to employment growth. Job gains at expanding establishments fell to 5.2 million in first quarter 2011, a decrease from the previous quarter’s gain of 5.6 million.
Opening establishments gained 1.1 million jobs in first quarter 2011, a decrease from the previous quarter when opening establishments created 1.4 million jobs. This is the smallest number of jobs gained at opening establishments since the series began in September 1992.
Contracting establishments lost 5 million jobs in the first quarter of 2011. This is the smallest number of jobs lost at contracting establishments since the series began in September 1992.
In the first quarter of 2011, closing establishments lost 1.1 million jobs, a decline from the previous quarter. This is the smallest number of jobs lost at closing establishments since the series began in September 1992.
From December 2010 to March 2011, gross job gains exceeded gross job losses in all industry sectors except construction, information, financial activities, retail trade, and transportation and warehousing. This is the fifteenth consecutive quarter of net losses for the information sector.