Business Employment Dynamics: Third Quarter, 2009

From June to September 2009, firms in Oregon that were newly opening or expanding added about 86,170 jobs. During the same time, firms that were cutting jobs or closing altogether shed about 93,230 jobs. The result was a net loss of 7,060 jobs over the quarter.

The pattern of job loss during the recent recession differs noticeably from the changes seen during the recession that began in 2000. The recessions vary in terms of depth and duration.

The previous recession had five quarters with net job losses. The total net loss was about 54,800 jobs, and the worst net loss in any quarter was a drop of 17,200 jobs. Within 18 months of the start of that recession, employment in Oregon resumed net growth.

The more recent recession shows net job losses in at least seven quarters. The losses might continue into an eighth or ninth quarter, but data beyond the third quarter of 2009 is not yet available. Thus far, the net drop in employment is about 143,200. The worst loss was a net drop of 47,400 jobs, which occurred in the first quarter of 2009.

For more business employment dynamics information, read the full article, written by Economist - and blogger extraordinaire! - Brooke Jackson (Brooke.D.Jackson@state.or.us, 503-947-1263).