The Oregon data show a long-term trend of declining job churn due to growing and shrinking businesses. The same trend is seen in new businesses and those going out of business.
(SALEM, Ore.) - Oregon’s private sector lost 104,666 jobs in businesses that closed or contracted between March and June of 2007. It gained 101,225 jobs in businesses that opened or expanded.
The net loss of 3,441 jobs was the first quarterly loss since the second quarter of 2003, at the tail end of the last recession.
Both groups of businesses - job gainers and job losers - showed weakness. Opening or expanding firms added the smallest number of jobs as a share of total employment since records began in 1993. Closing and shrinking firms subtracted a noticeably larger share of total employment than they did in the prior quarter.
These data come from the Business Employment Dynamics program at the Bureau of Labor Statistics of the U.S. Department of Labor.
The quarterly data stretch from the early 1990s, providing a view of the boom period of the mid-1990s, the recession of the early 2000s, and Oregon’s recovery and growth period beginning in mid-2003.
The Oregon data show a long-term trend of declining job churn due to growing and shrinking businesses. The same trend is seen in new businesses and those going out of business.
This slowdown in churning is also evident in national data available at bls.gov/bdm/. In addition to all-industry data, the national figures provide an industry-by-industry view of jobs added and subtracted due to expansions, contractions, openings, and closings.
State Had More Job Losses than Gains in Second Quarter of 2007Salem-News.com