WEDNESDAY WORKFACTS: Business Openings & Closings / Job Gains & Losses

Gross Openings and Closings

In the fourth quarter of 2017, the number of establishment openings increased by 4,000, to a total of 244,000 establishments. These new establishments accounted for
849,000 jobs, an increase of 12,000 jobs from the previous quarter. Data for establishment closings are available through the first quarter of 2017, when 660,000 jobs were lost at 202,000 establishments, a decrease of 69,000 jobs from the fourth quarter of 2016.


Gross job gains exceeded gross job losses in 12 of 13 industries in the fourth quarter of 2017. Service industries experienced a net job increase of 802,000 jobs in the fourth quarter of 2017. Within service-providing industries, professional and business services had the largest over-the-quarter net job increase, with a gain of 175,000 jobs. The net job increase in professional and business services was the result of 1.5 million gross job gains and 1.3 million gross job losses.

The utilities industry had the smallest net job increase over the quarter, with an increase of 1,000 jobs. The goods-producing industries experienced a net job increase of 197,000 jobs in the fourth quarter of 2017. Of the goods-producing industries, construction added 105,000 jobs, manufacturing added 94,000 jobs, and natural
resources and mining experienced a net decrease of 2,000 jobs.

{Information from the Bureau of Labor Statistics’ Business Employment Dynamics}