Job Creation Drops In 3Q 2006

The BLS is reporting that private sector businesses added 7.4 million jobs, but it is still lower than the same time period in the previous year.

WASHINGTON – Opening and expanding private sector businesses gained 7.4 million jobs in the third quarter of 2006 according to government statistics.

Data from Business Employment Dynamics, collected by the Bureau of Labor Statistics (BLS), noted that this is a decrease of 397,000 jobs in the same time period of the previous year.

Source: Bureau of Labor Statistics. To view larger, click on chart.

Established expanding businesses added 6.0 million jobs, while new businesses added 1.4 million jobs.

Gross job losses totaled 7.3 million from June 2006 to September 2006, an increase of 50,000 from the previous quarter.

Contracting establishments lost 6.0 million jobs, while closing establishments lost 1.3 million jobs.

Click here for more information on the Business Employment Dynamics report.

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