US Private sector loses 4.5M jobs in past four years

Businesses in America’s 100 biggest markets have reduced their workforces by 4.5 million employees since the onset of the recession in 2007 according to an On Numbers analysis of data from the U.S. Bureau of Labor Statistics.

The Los Angeles area suffered the biggest decline, with 447,800 private-sector jobs vanishing during the four-year period. That works out to a loss of 306 jobs per day.

Ten other markets had more than 100,000 private-sector jobs slip away since 2007, led by Chicago (down 279,600), New York City (down 210,200), Atlanta (down 208,100) and Phoenix (down 202,700).  The On Numbers study also calculated percentage declines in private-sector employment. Twelve metros suffered drops of more than 10 percent, with Cape Coral-Fort Myers, Fla., the worst at 15.3 percent.

The database below contains statistics for all 100 markets. Private-sector employment differs from the wider measure of nonfarm employment, which was the subject of yesterday’s On Numbers report. Nonfarm totals include government jobs at the local, state and federal levels.

Only six of the 100 biggest metros have added private-sector jobs since the recession’s arrival. Houston leads in raw numbers (up 23,000) and McAllen-Edinburg, Texas, is No. 1 in percentages (up 3.0 percent).

 

Source: Biz Journal

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