Business Employment Dynamics in Indiana — Third Quarter 2025

From June 2025 to September 2025, gross job losses from closing and contracting private-sector establishments in Indiana were 144,176, while gross job gains from opening and expanding private-sector establishments were 143,512, the U.S. Bureau of Labor Statistics reported today. Assistant Commissioner for Regional Operations Michael Hirniak noted that the difference between the number of gross job gains and the number of gross job losses yielded a net employment loss of 664 jobs in the private sector during the third quarter of 2025. (See table 1.) During the previous quarter, gross job losses exceeded gross job gains by 15,254. (See chart 1.)

Chart 1 is a line chart of private-sector gross job gains and losses in Indiana from September 2020–September 2025. Data are seasonally adjusted. An accessible version is available in the View Chart Data link below the chart.

View Chart Data

Chart 1. Private-sector gross job gains and losses in Indiana, September 2020–September 2025, seasonally adjusted
Period	Gross job losses	Gross job gains
Sep 2020	130,412	206,912
Dec 2020	127,592	173,063
Mar 2021	132,475	162,892
Jun 2021	155,202	148,724
Sep 2021	149,381	165,199
Dec 2021	127,340	195,461
Mar 2022	132,317	161,717
Jun 2022	159,447	154,584
Sep 2022	149,949	174,374
Dec 2022	142,808	156,393
Mar 2023	140,455	155,126
Jun 2023	160,768	155,016
Sep 2023	156,251	157,255
Dec 2023	142,861	151,076
Mar 2024	140,894	146,930
Jun 2024	152,463	144,820
Sep 2024	148,390	148,778
Dec 2024	141,890	151,200
Mar 2025	144,300	148,910
Jun 2025	155,374	140,120
Sep 2025	144,176	143,512

The change in the number of jobs over time is the net result of increases and decreases in employment that occur at all private businesses in the economy. Business Employment Dynamics (BED) statistics track these changes in employment at private-sector establishments from the third month of one quarter to the third month of the next. The difference between the number of gross job gains and the number of gross job losses is the net change in employment. (See the Business Employment Dynamics Technical Note.)

Gross job losses

In the third quarter of 2025, gross job losses represented 5.1 percent of private-sector employment in Indiana; nationally, gross job losses accounted for 5.7 percent of private-sector employment. (See chart 2.) Gross job losses are the result of contractions in employment at existing establishments and the loss of jobs at closing establishments. In Indiana, contracting establishments lost 120,557 jobs in the third quarter of 2025, a decrease of 3,532 jobs from the prior quarter. Closing establishments lost 23,619 jobs, a decrease of 7,666 jobs from the previous quarter.

View Chart Data

Chart 2. Private-sector gross job losses as a percent of employment, United States and Indiana, September 2020–September 2025, seasonally adjusted
Period	United States	Indiana
Sep 2020	5.9	5.2
Dec 2020	5.7	5.0
Mar 2021	5.5	5.1
Jun 2021	5.9	5.9
Sep 2021	6.0	5.7
Dec 2021	5.4	4.8
Mar 2022	5.5	4.9
Jun 2022	6.2	5.8
Sep 2022	5.9	5.5
Dec 2022	5.9	5.2
Mar 2023	5.5	5.1
Jun 2023	5.9	5.8
Sep 2023	5.9	5.6
Dec 2023	5.7	5.1
Mar 2024	5.5	5.1
Jun 2024	5.9	5.5
Sep 2024	5.8	5.3
Dec 2024	5.7	5.1
Mar 2025	5.4	5.2
Jun 2025	6.0	5.6
Sep 2025	5.7	5.1

Gross job gains

In the third quarter of 2025, gross job gains represented 5.1 percent of private-sector employment in Indiana; nationally, gross job gains accounted for 5.6 percent of private-sector employment. (See chart 3.) 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. In Indiana, gross job gains at expanding establishments totaled 120,679 in the third quarter of 2025, an increase of 3,496 jobs compared to the previous quarter. Opening establishments accounted for 22,833 jobs gained in the third quarter of 2025, a decrease of 104 jobs from the previous quarter.

View Chart Data

Chart 3. Private-sector gross job gains as a percent of employment, United States and Indiana, September 2020–September 2025, seasonally adjusted
Period	United States	Indiana
Sep 2020	9.4	8.2
Dec 2020	7.4	6.8
Mar 2021	7.0	6.2
Jun 2021	6.8	5.6
Sep 2021	7.3	6.3
Dec 2021	7.7	7.3
Mar 2022	6.7	5.9
Jun 2022	6.5	5.7
Sep 2022	6.9	6.4
Dec 2022	6.3	5.7
Mar 2023	6.3	5.6
Jun 2023	6.2	5.6
Sep 2023	5.9	5.7
Dec 2023	6.0	5.5
Mar 2024	5.9	5.3
Jun 2024	5.8	5.2
Sep 2024	5.8	5.3
Dec 2024	5.9	5.5
Mar 2025	5.6	5.4
Jun 2025	5.7	5.0
Sep 2025	5.6	5.1

Industries

Gross job losses exceeded gross job gains in 7 of the 11 published industry sectors in Indiana in the third quarter of 2025. Leisure and hospitality had the largest over-the-quarter net job decrease, with a loss of 3,409 jobs. This was the result of 24,092 gross job gains and 27,501 gross job losses. The manufacturing industry had a net loss of 1,291 jobs, followed by transportation and warehousing with a net loss of 1,066 jobs. Professional and business services showed a net gain of 4,473 jobs, the largest gain of any sector in the state. Indiana’s construction industry sector had a net gain of 1,549 jobs.

For more information

The BED data series include gross job gains and gross job losses by industry subsector, for the 50 states, the District of Columbia, Puerto Rico, and the Virgin Islands, as well as gross job gains and gross job losses at the firm level by employer size class. BED data for the states have been included in table 2 of this release. Additional information is available online at the Business Employment Dynamics homepage and the Business Employment Dynamics Summary.

The Business Employment Dynamics for Fourth Quarter 2025 are scheduled to be released on Wednesday, July 29, 2026 .

Technical Note

The Business Employment Dynamics (BED) data are a product of a federal-state cooperative program known as Quarterly Census of Employment and Wages (QCEW). The BED data are compiled by the U.S. Bureau of Labor Statistics (BLS) from existing QCEW records.

More information on formal definitions of the data used in this release, along with coverage, concepts, and methodology, can be found in the Business Employment Dynamics Technical Note.

If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

Table 1. Private-sector gross job gains and losses by industry, Indiana, seasonally adjusted
Category	Gross job gains and losses (3 months ended)					Gross job gains and losses as a percent of employment (3 months ended)
Category	Sept. 2024	Dec. 2024	Mar. 2025	June 2025	Sept. 2025	Sept. 2024	Dec. 2024	Mar. 2025	June 2025	Sept. 2025
Total private (1)
Gross job gains	148,778	151,200	148,910	140,120	143,512	5.3	5.5	5.4	5.0	5.1
At expanding establishments	122,735	124,577	124,434	117,183	120,679	4.4	4.5	4.5	4.2	4.3
At opening establishments	26,043	26,623	24,476	22,937	22,833	0.9	1.0	0.9	0.8	0.8
Gross job losses	148,390	141,890	144,300	155,374	144,176	5.3	5.1	5.2	5.6	5.1
At contracting establishments	125,359	117,523	119,652	124,089	120,557	4.5	4.2	4.3	4.5	4.3
At closing establishments	23,031	24,367	24,648	31,285	23,619	0.8	0.9	0.9	1.1	0.8
Net employment change (2)	388	9,310	4,610	-15,254	-664	0.0	0.4	0.2	-0.6	0.0
Construction
Gross job gains	13,765	13,536	14,943	12,370	13,552	8.2	7.9	8.5	7.0	7.8
At expanding establishments	11,450	11,244	12,722	10,401	11,665	6.8	6.6	7.2	5.9	6.7
At opening establishments	2,315	2,292	2,221	1,969	1,887	1.4	1.3	1.3	1.1	1.1
Gross job losses	12,083	11,737	11,775	12,831	12,003	7.1	6.8	6.7	7.3	6.9
At contracting establishments	10,168	9,661	9,526	10,192	9,568	6.0	5.6	5.4	5.8	5.5
At closing establishments	1,915	2,076	2,249	2,639	2,435	1.1	1.2	1.3	1.5	1.4
Net employment change (2)	1,682	1,799	3,168	-461	1,549	1.1	1.1	1.8	-0.3	0.9
Manufacturing
Gross job gains	12,650	14,079	13,988	12,317	13,179	2.4	2.7	2.7	2.3	2.6
At expanding establishments	11,482	13,147	12,567	11,685	12,152	2.2	2.5	2.4	2.2	2.4
At opening establishments	1,168	932	1,421	632	1,027	0.2	0.2	0.3	0.1	0.2
Gross job losses	16,262	16,882	13,603	14,985	14,470	3.1	3.3	2.6	2.9	2.8
At contracting establishments	14,975	15,437	12,654	13,403	12,834	2.9	3.0	2.4	2.6	2.5
At closing establishments	1,287	1,445	949	1,582	1,636	0.2	0.3	0.2	0.3	0.3
Net employment change (2)	-3,612	-2,803	385	-2,668	-1,291	-0.7	-0.6	0.1	-0.6	-0.2
Wholesale trade
Gross job gains	5,978	5,841	5,964	5,770	5,573	4.5	4.3	4.4	4.3	4.1
At expanding establishments	4,937	4,584	4,871	4,714	4,745	3.7	3.4	3.6	3.5	3.5
At opening establishments	1,041	1,257	1,093	1,056	828	0.8	0.9	0.8	0.8	0.6
Gross job losses	5,479	5,867	6,148	6,305	5,831	4.0	4.4	4.6	4.7	4.3
At contracting establishments	4,500	4,721	4,797	4,921	4,872	3.3	3.5	3.6	3.7	3.6
At closing establishments	979	1,146	1,351	1,384	959	0.7	0.9	1.0	1.0	0.7
Net employment change (2)	499	-26	-184	-535	-258	0.5	-0.1	-0.2	-0.4	-0.2
Retail trade
Gross job gains	15,664	14,646	17,441	14,934	14,890	4.9	4.7	5.5	4.7	4.8
At expanding establishments	13,961	13,035	15,197	13,212	13,374	4.4	4.2	4.8	4.2	4.3
At opening establishments	1,703	1,611	2,244	1,722	1,516	0.5	0.5	0.7	0.5	0.5
Gross job losses	16,518	16,209	14,841	18,315	15,722	5.2	5.1	4.7	5.8	5.0
At contracting establishments	14,957	14,226	12,673	15,565	13,246	4.7	4.5	4.0	4.9	4.2
At closing establishments	1,561	1,983	2,168	2,750	2,476	0.5	0.6	0.7	0.9	0.8
Net employment change (2)	-854	-1,563	2,600	-3,381	-832	-0.3	-0.4	0.8	-1.1	-0.2
Transportation and warehousing
Gross job gains	8,214	11,110	5,773	6,076	6,296	4.9	6.6	3.4	3.7	3.9
At expanding establishments	7,357	10,010	4,929	5,312	5,527	4.4	5.9	2.9	3.2	3.4
At opening establishments	857	1,100	844	764	769	0.5	0.7	0.5	0.5	0.5
Gross job losses	6,416	6,335	10,273	8,764	7,362	3.9	3.8	6.1	5.3	4.5
At contracting establishments	5,340	4,996	8,999	7,444	6,380	3.2	3.0	5.3	4.5	3.9
At closing establishments	1,076	1,339	1,274	1,320	982	0.7	0.8	0.8	0.8	0.6
Net employment change (2)	1,798	4,775	-4,500	-2,688	-1,066	1.0	2.8	-2.7	-1.6	-0.6
Information
Gross job gains	1,316	1,462	1,223	1,349	1,568	5.0	5.5	4.6	5.1	6.0
At expanding establishments	1,029	1,095	910	1,116	1,235	3.9	4.1	3.4	4.2	4.7
At opening establishments	287	367	313	233	333	1.1	1.4	1.2	0.9	1.3
Gross job losses	1,316	1,432	1,434	1,480	1,480	4.9	5.4	5.4	5.5	5.5
At contracting establishments	992	1,105	1,078	993	1,231	3.7	4.2	4.1	3.7	4.6
At closing establishments	324	327	356	487	249	1.2	1.2	1.3	1.8	0.9
Net employment change (2)	0	30	-211	-131	88	0.1	0.1	-0.8	-0.4	0.5
Financial activities
Gross job gains	7,152	6,292	6,139	6,389	6,001	5.1	4.4	4.3	4.5	4.3
At expanding establishments	5,521	4,568	4,824	4,945	4,602	3.9	3.2	3.4	3.5	3.3
At opening establishments	1,631	1,724	1,315	1,444	1,399	1.2	1.2	0.9	1.0	1.0
Gross job losses	6,533	6,041	6,637	7,028	6,155	4.7	4.3	4.7	4.9	4.3
At contracting establishments	5,129	4,636	4,847	5,277	4,826	3.7	3.3	3.4	3.7	3.4
At closing establishments	1,404	1,405	1,790	1,751	1,329	1.0	1.0	1.3	1.2	0.9
Net employment change (2)	619	251	-498	-639	-154	0.4	0.1	-0.4	-0.4	0.0
Professional and business services
Gross job gains	27,009	25,882	23,577	24,968	29,571	7.6	7.3	6.6	7.1	8.3
At expanding establishments	21,316	20,282	19,262	20,444	24,313	6.0	5.7	5.4	5.8	6.8
At opening establishments	5,693	5,600	4,315	4,524	5,258	1.6	1.6	1.2	1.3	1.5
Gross job losses	27,054	26,306	22,430	29,790	25,098	7.6	7.4	6.3	8.4	7.1
At contracting establishments	21,602	21,068	17,320	24,370	19,863	6.1	5.9	4.9	6.9	5.6
At closing establishments	5,452	5,238	5,110	5,420	5,235	1.5	1.5	1.4	1.5	1.5
Net employment change (2)	-45	-424	1,147	-4,822	4,473	0.0	-0.1	0.3	-1.3	1.2
Education and health services
Gross job gains	22,021	21,075	24,985	21,854	20,957	4.3	4.2	4.9	4.2	4.1
At expanding establishments	18,952	17,571	21,646	18,722	17,815	3.7	3.5	4.2	3.6	3.5
At opening establishments	3,069	3,504	3,339	3,132	3,142	0.6	0.7	0.7	0.6	0.6
Gross job losses	20,254	19,058	21,398	20,056	20,588	4.0	3.7	4.2	3.9	4.0
At contracting establishments	17,819	15,394	18,653	15,970	17,832	3.5	3.0	3.7	3.1	3.5
At closing establishments	2,435	3,664	2,745	4,086	2,756	0.5	0.7	0.5	0.8	0.5
Net employment change (2)	1,767	2,017	3,587	1,798	369	0.3	0.5	0.7	0.3	0.1
Leisure and hospitality
Gross job gains	27,184	28,142	26,589	25,801	24,092	8.7	9.0	8.5	8.2	7.7
At expanding establishments	20,356	21,382	20,912	19,890	18,904	6.5	6.8	6.7	6.3	6.0
At opening establishments	6,828	6,760	5,677	5,911	5,188	2.2	2.2	1.8	1.9	1.7
Gross job losses	27,836	24,587	27,443	26,909	27,501	8.9	7.8	8.8	8.6	8.8
At contracting establishments	22,607	20,216	22,239	19,222	23,374	7.2	6.4	7.1	6.1	7.5
At closing establishments	5,229	4,371	5,204	7,687	4,127	1.7	1.4	1.7	2.5	1.3
Net employment change (2)	-652	3,555	-854	-1,108	-3,409	-0.2	1.2	-0.3	-0.4	-1.1
Other services (3)
Gross job gains	5,934	6,223	5,520	6,518	5,971	6.4	6.7	5.9	6.9	6.4
At expanding establishments	4,814	5,059	4,520	5,168	4,760	5.2	5.4	4.8	5.5	5.1
At opening establishments	1,120	1,164	1,000	1,350	1,211	1.2	1.3	1.1	1.4	1.3
Gross job losses	6,465	5,639	5,939	6,241	6,253	7.0	6.1	6.4	6.6	6.7
At contracting establishments	5,343	4,458	4,733	4,611	5,151	5.8	4.8	5.1	4.9	5.5
At closing establishments	1,122	1,181	1,206	1,630	1,102	1.2	1.3	1.3	1.7	1.2
Net employment change (2)	-531	584	-419	277	-282	-0.6	0.6	-0.5	0.3	-0.3
Footnotes: (1) Includes unclassified sector not shown separately. (2) The net employment change is the difference between total gross job gains and total gross job losses. (3) Except public administration.

Table 2. Private-sector gross job gains and losses as a percent of total employment by state, seasonally adjusted
Category	Gross job gains as a percent of employment (3 months ended)					Gross job losses as a percent of employment (3 months ended)
Category	Sept. 2024	Dec. 2024	Mar. 2025	June 2025	Sept. 2025	Sept. 2024	Dec. 2024	Mar. 2025	June 2025	Sept. 2025
United States(1)	5.8	5.9	5.6	5.7	5.6	5.8	5.7	5.4	6.0	5.7
Alabama	5.8	5.8	5.3	5.5	5.4	5.9	5.3	5.6	5.6	5.5
Alaska	8.0	10.3	10.0	9.9	7.5	9.6	9.5	8.1	10.3	10.0
Arizona	6.4	6.1	5.8	5.3	5.8	5.7	5.9	5.3	6.3	5.5
Arkansas	5.5	5.8	5.1	5.1	5.3	5.2	4.8	5.1	5.5	5.3
California	6.3	6.7	6.0	6.6	6.2	6.2	6.4	6.2	6.7	6.0
Colorado	6.3	6.2	6.2	6.4	6.5	6.4	6.5	6.8	7.1	6.5
Connecticut	5.5	5.5	5.6	5.8	5.3	5.6	5.5	5.3	5.8	5.9
Delaware	6.8	6.1	5.9	5.9	5.3	6.4	6.3	5.3	6.1	6.1
District of Columbia	4.9	5.0	4.8	5.7	4.6	5.0	5.5	5.8	5.9	5.9
Florida	6.5	6.0	5.8	5.7	5.9	5.7	6.2	5.5	5.8	6.0
Georgia	5.8	6.0	5.5	5.5	5.7	6.1	5.4	5.7	5.6	5.8
Hawaii	5.7	5.3	4.9	4.8	5.1	5.0	5.0	5.0	5.2	4.8
Idaho	7.1	8.2	7.3	7.7	6.7	7.5	6.8	7.3	7.2	7.6
Illinois	4.9	5.1	5.0	5.2	4.7	5.0	5.1	5.0	5.2	5.0
Indiana	5.3	5.5	5.4	5.0	5.1	5.3	5.1	5.2	5.6	5.1
Iowa	5.3	5.6	5.8	5.6	4.8	6.0	5.6	5.5	5.8	5.9
Kansas	5.3	5.9	5.5	5.4	5.8	5.6	5.2	5.4	6.3	5.8
Kentucky	5.4	5.3	5.2	5.0	5.3	5.4	5.5	4.8	5.4	5.6
Louisiana	6.1	6.2	5.6	5.5	5.9	5.8	5.5	5.6	6.3	6.0
Maine	6.2	7.0	7.4	7.2	6.2	7.1	7.1	6.3	7.4	7.0
Maryland	5.9	6.0	5.9	5.7	5.7	6.1	5.9	5.7	6.2	6.5
Massachusetts	5.0	5.3	5.0	5.5	5.3	5.8	5.5	5.1	5.8	5.9
Michigan	5.3	5.4	5.2	5.8	4.9	5.8	5.9	5.3	5.5	5.9
Minnesota	5.1	5.5	5.1	5.8	5.3	5.8	5.1	5.5	5.5	5.6
Mississippi	6.3	6.3	5.7	6.3	6.4	5.7	6.2	6.1	6.5	6.1
Missouri	5.6	5.7	5.4	5.5	5.6	5.8	5.3	5.2	6.1	5.9
Montana	7.2	8.4	8.0	7.7	7.0	8.0	7.8	7.5	8.3	7.9
Nebraska	5.6	5.6	5.2	5.4	5.5	5.6	5.5	5.3	5.5	5.8
Nevada	6.2	6.1	5.4	6.2	6.9	5.9	5.6	5.9	6.3	5.2
New Hampshire	5.6	6.3	6.5	6.3	5.6	6.7	5.9	6.1	6.7	6.8
New Jersey	5.4	6.0	5.6	5.8	5.3	5.8	5.5	5.4	5.5	5.8
New Mexico	6.3	6.1	5.9	5.9	5.8	6.2	5.9	5.8	6.0	6.2
New York	5.7	5.7	6.6	5.9	5.9	5.8	5.5	5.0	7.0	5.8
North Carolina	5.5	6.1	5.4	5.6	5.4	5.8	5.5	5.5	5.4	5.7
North Dakota	6.5	6.5	6.7	6.4	6.2	6.5	6.6	6.5	6.7	6.6
Ohio	5.2	5.4	5.2	5.3	5.1	5.4	5.1	4.9	5.4	5.3
Oklahoma	6.1	6.0	5.5	5.5	6.0	5.5	5.5	5.3	6.2	6.4
Oregon	6.3	6.2	5.8	6.4	5.7	6.6	6.6	6.2	6.5	6.7
Pennsylvania	5.1	5.2	5.0	4.9	5.0	5.0	4.8	4.7	5.2	5.2
Rhode Island	6.2	7.3	6.6	6.3	6.0	6.4	6.3	5.9	6.7	6.7
South Carolina	6.2	6.4	6.1	5.8	6.3	5.9	5.9	5.5	6.6	6.5
South Dakota	5.9	6.7	6.2	6.0	5.9	5.9	5.9	6.5	6.1	6.0
Tennessee	5.6	5.5	5.4	5.1	5.7	5.7	6.2	5.1	5.9	5.2
Texas	5.7	5.8	5.1	5.2	5.3	5.3	5.2	5.1	5.4	5.3
Utah	6.8	6.8	6.6	6.6	6.7	6.2	6.3	6.0	6.6	6.4
Vermont	6.6	6.7	6.9	6.9	6.6	7.1	6.7	6.8	7.5	7.8
Virginia	5.8	5.8	5.6	5.8	5.9	5.7	5.5	5.1	5.8	6.1
Washington	5.8	5.8	5.7	6.0	5.2	5.8	5.7	5.5	5.4	5.6
West Virginia	5.9	6.5	6.4	5.5	5.8	6.6	6.1	5.7	6.3	6.0
Wisconsin	5.1	5.3	5.0	5.3	4.9	5.5	5.2	4.9	5.5	5.6
Wyoming	8.9	8.9	8.1	8.3	7.7	8.5	8.3	8.7	8.9	8.4
Puerto Rico	5.4	4.3	6.3	7.0	5.4	5.0	5.4	5.4	6.1	5.7
Virgin Islands	4.7	5.2	5.4	15.0	7.1	7.5	10.8	7.6	9.5	8.4
Footnotes (1) Totals for the United States do not include data for Puerto Rico or the Virgin Islands.

Last Modified Date: Thursday, May 14, 2026

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