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Job losses 7.8 million, job gains 7.6 million, during second quarter 2024

February 03, 2025

From March 2024 to June 2024, gross job losses from closing and contracting private-sector establishments were 7.8 million, an increase of 639,000 jobs from the previous quarter. Gross job gains from opening and expanding private-sector establishments were 7.6 million, a decrease of 17,000 jobs from the previous quarter. The difference between the number of gross job gains and the number of gross job losses during the second quarter of 2024 yielded a net employment decline of 163,000 jobs in the private sector.

Gross job gains and losses, and net employment change, private sector
Quarter Gross job gains Gross job losses Net employment change

Q2 2014

7,454,000 6,559,000 895,000

Q3 2014

7,247,000 6,670,000 577,000

Q4 2014

7,617,000 6,579,000 1,038,000

Q1 2015

7,046,000 6,830,000 216,000

Q2 2015

7,580,000 6,731,000 849,000

Q3 2015

7,344,000 6,869,000 475,000

Q4 2015

7,817,000 6,873,000 944,000

Q1 2016

7,163,000 6,914,000 249,000

Q2 2016

7,443,000 7,125,000 318,000

Q3 2016

7,710,000 6,962,000 748,000

Q4 2016

7,413,000 7,105,000 308,000

Q1 2017

7,434,000 6,783,000 651,000

Q2 2017

7,639,000 7,113,000 526,000

Q3 2017

7,321,000 7,360,000 -39,000

Q4 2017

7,772,000 6,889,000 883,000

Q1 2018

7,494,000 6,811,000 683,000

Q2 2018

7,688,000 7,190,000 498,000

Q3 2018

7,485,000 7,399,000 86,000

Q4 2018

7,719,000 6,996,000 723,000

Q1 2019

7,453,000 6,981,000 472,000

Q2 2019

7,654,000 7,395,000 259,000

Q3 2019

7,385,000 7,313,000 72,000

Q4 2019

7,838,000 7,076,000 762,000

Q1 2020

7,024,000 7,886,000 -862,000

Q2 2020

5,725,000 20,234,000 -14,509,000

Q3 2020

10,855,000 6,834,000 4,021,000

Q4 2020

8,808,000 6,772,000 2,036,000

Q1 2021

8,313,000 6,544,000 1,769,000

Q2 2021

8,200,000 7,215,000 985,000

Q3 2021

8,870,000 7,387,000 1,483,000

Q4 2021

9,587,000 6,687,000 2,900,000

Q1 2022

8,541,000 6,990,000 1,551,000

Q2 2022

8,337,000 7,959,000 378,000

Q3 2022

8,851,000 7,489,000 1,362,000

Q4 2022

8,121,000 7,625,000 496,000

Q1 2023

8,169,000 7,146,000 1,023,000

Q2 2023

8,129,000 7,784,000 345,000

Q3 2023

7,700,000 7,758,000 -58,000

Q4 2023

7,902,000 7,499,000 403,000

Q1 2024

7,608,000 7,115,000 493,000

Q2 2024

7,591,000 7,754,000 -163,000

Note: Data are seasonally adjusted.

Gross job losses exceeded gross job gains in 8 of the 13 major industries in the second quarter of 2024. Four major industries had a net loss of 50,000 jobs or more: professional and business services (−86,000), retail trade (−71,000), construction (−58,000), and leisure and hospitality (−53,000).

Gross job gains and losses, and net employment change, by industry, private sector, second quarter 2024
Industry Gross job gains Gross job losses Net employment change

Professional and business services

1,437,000 1,523,000 -86,000

Retail trade

803,000 874,000 -71,000

Construction

634,000 692,000 -58,000

Leisure and hospitality

1,368,000 1,421,000 -53,000

Information

130,000 175,000 -45,000

Transportation and warehousing

294,000 338,000 -44,000

Manufacturing

397,000 432,000 -35,000

Wholesale trade

257,000 269,000 -12,000

Utilities

16,000 16,000 0

Natural resources and mining

217,000 208,000 9,000

Financial activities

396,000 387,000 9,000

Other services

323,000 313,000 10,000

Education and health services

1,221,000 1,073,000 148,000

Note: Data are seasonally adjusted.

Utilities had the same number of gross job losses, 16,000, as gross job gains, yielding no net change in employment.

Four major industries had net job increases: education and health services (148,000), other services (10,000), and natural resources and mining and financial activities (9,000 each). The 148,000-job increase in education and health services resulted from a gross job gain of 1,221,000 exceeding a gross job loss of 1,073,000.

These data are from the Business Employment Dynamics program and are seasonally adjusted. For more information, see "Business Employment Dynamics — Second 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.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Job losses 7.8 million, job gains 7.6 million, during second quarter 2024 at https://www.bls.gov/opub/ted/2025/job-losses-7-8-million-job-gains-7-6-million-during-second-quarter-2024.htm (visited February 11, 2025).

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