Job losses 7.6 million, job gains 7.6 million, during third quarter 2024

From June 2024 to September 2024, gross job losses from closing and contracting private-sector establishments were 7.6 million, a decrease of 131,000 jobs from the previous quarter. Gross job gains from opening and expanding private-sector establishments were also 7.6 million, an increase of 31,000 jobs from the previous quarter. Gross job losses and gross job gains each represented 5.8 percent of total private-sector employment in third quarter 2024.

Gross job losses represented 7.0 percent or more of private-sector employment in Alaska (9.7 percent), Wyoming (9.0 percent), Montana (8.1 percent), Idaho (7.6 percent), Vermont (7.3 percent), and Maine (7.0 percent). Four of these states also had gross job gains rates of 7.0 percent or higher. These were Wyoming (8.6 percent), Alaska (7.9 percent), Montana (7.3 percent), and Idaho (7.2 percent).

Louisiana, Massachusetts, Michigan, Missouri, New Jersey, and Tennessee had rates of gross job losses of 5.8 percent, equal to that of the nation. Gross job gains rates equaled that of the nation in Virginia and West Virginia (5.8 percent each).

From June 2024 to September 2024, gross job losses rates were lowest in the District of Columbia and Hawaii (5.0 percent each). Gross job gains represented 5.0 percent or less of private-sector employment in Wisconsin and Illinois (5.0 percent each) and Massachusetts and the District of Columbia (4.9 percent each).

These data are from the Business Employment Dynamics program and are seasonally adjusted. For more information, see "Business Employment Dynamics — Third Quarter 2024." Also see charts related to the latest "Business Employment Dynamics" news release. An establishment is defined as an economic unit that produces goods or services, usually at a single physical location, and engages in one or predominantly one activity.