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Professional and business services only industry to gain over 100,000 jobs in second quarter 2018

February 01, 2019

From March 2018 to June 2018, gross job gains from opening and expanding private-sector establishments were 7.6 million, an increase of 233,000 jobs. Over this same period, gross job losses from closing and contracting establishments were 7.2 million, or 536,000 more lost jobs than the previous quarter. The difference between gross job gains and gross job losses yielded a net employment gain of 437,000 jobs over the period. Professional and business services had the largest net job increase among industries, with a gain of 102,000 jobs.

Job gains and losses by industry, 2nd quarter 2018, seasonally adjusted
Industry Gross job gains Gains at expanding establishments Gains at opening establishments Gross job losses Losses at contracting establishments Losses at closing establishments Net employment change

Natural resources and mining

275,000 241,000 34,000 247,000 213,000 34,000 28,000

Construction

685,000 563,000 122,000 634,000 515,000 119,000 51,000

Manufacturing

438,000 404,000 34,000 375,000 330,000 45,000 63,000

Wholesale trade

273,000 229,000 44,000 250,000 196,000 54,000 23,000

Retail trade

902,000 772,000 130,000 955,000 837,000 118,000 -53,000

Transportation and warehousing

284,000 245,000 39,000 252,000 217,000 35,000 32,000

Utilities

13,000 11,000 2,000 15,000 13,000 2,000 -2,000

Information

158,000 133,000 25,000 167,000 139,000 28,000 -9,000

Financial activities

389,000 311,000 78,000 354,000 275,000 79,000 35,000

Professional and business services

1,456,000 1,193,000 263,000 1,354,000 1,086,000 268,000 102,000

Education and health services

1,005,000 814,000 191,000 933,000 758,000 175,000 72,000

Leisure and hospitality

1,338,000 1,061,000 277,000 1,351,000 1,131,000 220,000 -13,000

Other services

314,000 250,000 64,000 283,000 221,000 62,000 31,000

Professional and business services was the only industry to have a net job gain of over 100,000 jobs during the second quarter of 2018. Over that period, the 1,456,000 job gains in the industry resulted from 1,193,00 job gains at expanding business establishments and 263,00 jobs gained at opening business establishments.

The retail trade industry had the largest net job decrease from March 2018 to June 2018, with a loss of 53,000 jobs. The net job loss resulted from gross job losses of 955,000 and gross job gains of 902,000.

These data are from the Business Employment Dynamics program. Gross job gains are the sum of increases in employment due to expansions at existing establishments and the addition of new jobs at opening establishments. Gross job losses are the result of contractions in employment at existing establishments and the loss of jobs at closing establishments. For more information, see "Business Employment Dynamics — Second Quarter 2018." Also see charts related to the latest "Business Employment Dynamics" news release.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Professional and business services only industry to gain over 100,000 jobs in second quarter 2018 on the Internet at https://www.bls.gov/opub/ted/2019/professional-and-business-services-only-industry-to-gain-over-100000-jobs-in-second-quarter-2018.htm (visited September 30, 2020).

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