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For The First Time In 7-Years, The US Suffered A Net-Loss In Private Sector Jobs

Voice of America / Public Domain

For the first time in seven years, the private sector of the United States suffered a net loss in jobs.

While U.S. unemployment remains at a record low, it doesn't mean that businesses are not shedding jobs.

In Q3 2017, the U.S. suffered a net loss of 140,000 jobs in the private sector. This is the first time in seven years that the U.S. has suffered a net loss of jobs in the private sector.

From June 2017 to September 2017, gross job losses from closing and contracting private-sector
establishments were 7.4 million, an increase of 268,000 jobs lost from the previous quarter, the U.S.
Bureau of Labor Statistics reported today.

Over this period, gross job gains from opening and expanding
private-sector establishments were 7.3 million, a decrease of 348,000 jobs gained over the quarter.

The
difference between the number of gross job gains and the number of gross job losses yielded a net
employment loss of 140,000 jobs in the private sector during the third quarter of 2017. (See tables A
and 1.)

The change in the number of jobs over time is the net result of increases and decreases in employment
that occur at all private businesses in the economy.

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