New U.S. govt data shows huge churning of jobs

Biz.Yahoo/Reuters ^ | September 30, 2003

[Starwind]

New U.S. govt data shows huge churning of jobs
Tuesday September 30, 3:11 pm ET

WASHINGTON, Sept 30 (Reuters) - A new U.S. data series released on Tuesday by the Bureau of Labor Statistics shows a "tremendous churn" of jobs every quarter as workplaces open and close and contract and expand over the business cycle.

The Report on Employment Business Dynamics, to be released quarterly with an eight-month time lag, fills in details of the closely watched U.S. employment situation, including a breakdown of jobs lost and gained each quarter since 1992.

The first installment of the series, which provided private-sector data through the fourth quarter of 2002, showed 7.746 million jobs were gained in the final three months of last year, while 7.816 million were lost -- for a net loss of 70,000 jobs.

In other words, 7.2 percent of all jobs in December 2002 did not exist three months earlier, while 7.3 percent of jobs in September 2002 had disappeared by the end of the year -- a significant churn that cannot be seen by looking at the Labor Department's monthly payrolls report.

"These gross job gains and job losses statistics demonstrated that a sizable number of jobs appear and disappear in the relatively short time frame of one quarter," the BLS said in the report.

Of the jobs gained in the quarter, 1.632 million were created by the birth of a new business or work site. Of those lost, 1.627 million were at establishments which died. Jobs gained and lost by the opening or closing of establishments -- even on a seasonal or temporary basis -- represent less than a quarter of overall jobs lost or gained, according to the report.

The new breakdown is compiled from the bureau's Quarterly Census of Employment and Wages, which surveys about 6.4 million private-sector employer reports submitted to state unemployment insurance programs. It does not include government employees or private households.

The next release is set for November, and will include data from the first quarter of 2003. Eventually, the BLS said it hopes to provide a breakdown of job losses and gains by sector and wage level.

[Starwind]

1st release of the new BLS report is at Quarterly Data on Business Employment Dynamics - Sep 2003 covering September 2002 to December 2002.

[Starwind]

Get'm while they're hot...

[Lazamataz]

I have utterly no idea what the ramifications of this are.

[Fitzcarraldo]

Are outsourced jobs included in these figures?

[Huck]

Outsourcing creates jobs too.

[Lazamataz]

What for I'm not on your ping list?

[Coop]

And yet here I sit in this same little cubicle, day after day. I feel so... stale.

[AdamSelene235]

A new U.S. data series released on Tuesday by the Bureau of Labor Statistics

I stopped reading there. I'd rather count office buildings for lease or note how much tobacco is left in thrown away cigarettes than listen to the pathological liars at the BLS.

[Starwind]

I have utterly no idea what the ramifications of this are.

Me neither, yet.

Are outsourced jobs included in these figures?

Don't know. New report to be studied.

[Starwind]

What for I'm not on your ping list?

Perhaps for lack of having conveyed a properly constructed English request, to date?

[lelio]

In other words, 7.2 percent of all jobs in December 2002 did not exist three months earlier

What does that mean? That you've added a salesman to your staff? That you're a new company and are expanding into a new field and need an entirely new staff to support it? That you laid someone off 3 months ago and just re-hired them?

Or maybe that you've had to hire on a security guard to protect your stuff from former employees that you've just canned?

[Lazamataz]

And yet here I sit in this same little cubicle, day after day. I feel so... stale.

I and a lot of fellow freepers have had plenty of chances to be 'fresh'.

'Stale' is better.

[skeeter]

I have utterly no idea what the ramifications of this are.

Lots and lots of confused workers and 'general ed' majors.

[Lazamataz]

Perhaps for lack of having conveyed a properly constructed English request, to date?

Mah foo peen caht maan pro mayg monn tok.

Okay?

[Starwind]

Obviously! It's already done.

[lelio]

Mah foo peen caht maan pro mayg monn tok.

How many stars? 1 mild, 4 very hot. < / thai restaurant >

[LibWhacker]

It sounds like it'll make it difficult for some -- and perhaps a lot of -- workers ever to draw a retirement check from an employer.

[1rudeboy]

Are outsourced jobs included in these figures?

Who cares? Just blame free trade anyway.

[Gunslingr3]

It sounds like it'll make it difficult for some -- and perhaps a lot of -- workers ever to draw a retirement check from an employer.

Thank your local congressmen for the mandates legislated for 'full time' employees.

Everyone everywhere better be making their own plans for retirement. Unless they intend to work their whole lives.