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U.S. Sees First Net Private Employment Loss in Seven Years

Posted by on Apr. 26, 2018 at 12:00 PM
  • 1 Replies

BloombergBusiness

U.S. Sees First Net Private Employment Loss in Seven Years

  • Businesses slashed 140,000 jobs in third quarter of 2017
  • Data raises prospect of slowdown in buoyant labor market

Unemployment is at a 17-year low -- for now.

The economy suffered a net loss of 140,000 private sector jobs in the third quarter -- the first such loss since early 2010, according to Labor Department data issued today, with Florida suffering the largest contraction.

The smallest of firms -- with up to 49 employees -- were hardest hit.


Nationally, the unemployment rate has held steady at 4.1 percent since October.

Sept.

Dec.

Mar.

June

Sept.

2016

2016

2017

2017

2017

Gross job gains7,6897,4557,3287,6047,256
 At expanding establishments6,2326,0406,0196,2465,935
 At opening establishments1,4571,4151,3091,3581,321
Gross job losses7,0087,0656,6747,1287,396
 At contracting establishments5,7605,7605,5215,8796,082
 At closing establishments1,2481,3051,1531,2491,314
Net employment change681390654476-140

https://megaphone.link/BLM1974168533

https://www.bloomberg.com/amp/news/articles/2018-04-25/u-s-sees-first-net-private-employment-loss-in-seven-years

by on Apr. 26, 2018 at 12:00 PM
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anonomomma
by New Member on Apr. 26, 2018 at 12:14 PM
1 mom liked this
That's not really a surprise if you have been paying attention. The Amazon effect is spilling over to major retailers now. All the small online boutique owners I know felt it sooner and it's finally hitting businesses like Wal mart.
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