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From December 2009 to March 2010 the number of gross job gains from opening and expanding private sector establishments decreased to 6.1 million. Over the same period, gross job losses from closing and contracting private sector establishments were 6.4 million—the lowest level since this series began in September 1992.
The difference between the number of gross jobs gained and the number of gross jobs lost yielded a net change of ‑311,000 jobs in the private sector for first quarter 2010.
In the first quarter of 2010, firms with 100 to 999 employees experienced net job gains, while firms with 1 to 99 employees and 1,000 or more employees experienced net job losses.
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 jobs gained and the number of gross jobs lost is the net change in employment.