News Release Information
25-843-BOS
Friday, May 16, 2025
Business Employment Dynamics in the U.S. Virgin Islands — Third Quarter 2024
From June 2024 to September 2024, gross job losses from closing and contracting private-sector establishments in the U.S. Virgin Islands were 1,526, while gross job gains from opening and expanding private-sector establishments were 1,100, the U.S. Bureau of Labor Statistics reported today. Acting Regional Commissioner Mark J. Maggi noted that the difference between the number of gross job gains and the number of gross job losses yielded a net employment loss of 426 jobs in the private sector during the third quarter of 2024. (See table 1.) During the previous quarter, gross job losses exceeded gross job gains by 205. (See chart 1.)
Chart 1. Private-sector gross job gains and losses in the U.S. Virgin Islands, September 2019–September 2024, seasonally adjusted| Period | Gross job losses | Gross job gains |
|---|
Sep 2019 | 1,710 | 3,244 |
|---|
Dec 2019 | 2,184 | 2,918 |
|---|
Mar 2020 | 2,581 | 2,211 |
|---|
Jun 2020 | 5,211 | 1,377 |
|---|
Sep 2020 | 2,886 | 1,844 |
|---|
Dec 2020 | 1,400 | 2,255 |
|---|
Mar 2021 | 2,630 | 1,806 |
|---|
Jun 2021 | 1,420 | 2,623 |
|---|
Sep 2021 | 2,103 | 1,856 |
|---|
Dec 2021 | 2,304 | 1,977 |
|---|
Mar 2022 | 2,115 | 1,764 |
|---|
Jun 2022 | 2,184 | 1,865 |
|---|
Sep 2022 | 1,319 | 2,015 |
|---|
Dec 2022 | 1,148 | 1,456 |
|---|
Mar 2023 | 1,821 | 1,946 |
|---|
Jun 2023 | 1,614 | 1,856 |
|---|
Sep 2023 | 1,705 | 2,058 |
|---|
Dec 2023 | 1,471 | 1,521 |
|---|
Mar 2024 | 1,140 | 1,423 |
|---|
Jun 2024 | 1,292 | 1,087 |
|---|
Sep 2024 | 1,526 | 1,100 |
|---|
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 lossesIn the third quarter of 2024, gross job losses represented 6.1 percent of private-sector employment in the U.S. Virgin Islands; nationally, gross job losses accounted for 5.8 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 the U.S. Virgin Islands, contracting establishments lost 1,018 jobs in the third quarter of 2024, an increase of 135 jobs from the prior quarter. Closing establishments lost 508 jobs, an increase of 99 jobs from the previous quarter.
Chart 2. Private-sector gross job losses as a percent of employment, United States and the U.S. Virgin Islands, September 2019–September 2024, seasonally adjusted| Period | United States | U.S. Virgin Islands |
|---|
Sep 2019 | 5.8 | 6.3 |
|---|
Dec 2019 | 5.5 | 7.7 |
|---|
Mar 2020 | 6.3 | 9.0 |
|---|
Jun 2020 | 16.8 | 19.3 |
|---|
Sep 2020 | 5.9 | 11.9 |
|---|
Dec 2020 | 5.7 | 5.8 |
|---|
Mar 2021 | 5.5 | 10.9 |
|---|
Jun 2021 | 5.9 | 5.8 |
|---|
Sep 2021 | 6.1 | 8.5 |
|---|
Dec 2021 | 5.4 | 9.4 |
|---|
Mar 2022 | 5.5 | 8.7 |
|---|
Jun 2022 | 6.2 | 9.1 |
|---|
Sep 2022 | 5.9 | 5.5 |
|---|
Dec 2022 | 5.9 | 4.7 |
|---|
Mar 2023 | 5.5 | 7.4 |
|---|
Jun 2023 | 5.9 | 6.5 |
|---|
Sep 2023 | 6.0 | 6.8 |
|---|
Dec 2023 | 5.7 | 5.9 |
|---|
Mar 2024 | 5.4 | 4.5 |
|---|
Jun 2024 | 5.9 | 5.1 |
|---|
Sep 2024 | 5.8 | 6.1 |
|---|
In the third quarter of 2024, gross job gains represented 4.4 percent of private-sector employment in the U.S. Virgin Islands; nationally, gross job gains accounted for 5.8 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 the U.S. Virgin Islands, gross job gains at expanding establishments totaled 877 in the third quarter of 2024, a decrease of 117 jobs compared to the previous quarter. Opening establishments accounted for 223 jobs gained in the third quarter of 2024, an increase of 130 jobs from the previous quarter.
Chart 3. Private-sector gross job gains as a percent of employment, United States and the U.S. Virgin Islands, September 2019–September 2024, seasonally adjusted| Period | United States | U.S. Virgin Islands |
|---|
Sep 2019 | 5.9 | 11.9 |
|---|
Dec 2019 | 6.2 | 10.3 |
|---|
Mar 2020 | 5.5 | 7.7 |
|---|
Jun 2020 | 4.8 | 5.1 |
|---|
Sep 2020 | 9.5 | 7.6 |
|---|
Dec 2020 | 7.4 | 9.3 |
|---|
Mar 2021 | 6.9 | 7.4 |
|---|
Jun 2021 | 6.8 | 10.7 |
|---|
Sep 2021 | 7.3 | 7.5 |
|---|
Dec 2021 | 7.7 | 8.1 |
|---|
Mar 2022 | 6.7 | 7.3 |
|---|
Jun 2022 | 6.5 | 7.8 |
|---|
Sep 2022 | 6.9 | 8.4 |
|---|
Dec 2022 | 6.3 | 5.9 |
|---|
Mar 2023 | 6.3 | 7.9 |
|---|
Jun 2023 | 6.2 | 7.5 |
|---|
Sep 2023 | 5.9 | 8.2 |
|---|
Dec 2023 | 6.0 | 6.0 |
|---|
Mar 2024 | 5.7 | 5.6 |
|---|
Jun 2024 | 5.8 | 4.3 |
|---|
Sep 2024 | 5.8 | 4.4 |
|---|
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 U.S. 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 2024 are scheduled to be released on Wednesday, July 30, 2025.
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.
Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: (202) 691-5200; Telecommunications Relay Service: 7-1-1.
Table 1. Private-sector gross job gains and losses by industry, U.S. Virgin Islands, seasonally adjusted| Category | Gross job gains and losses
(3 months ended) | Gross job gains and losses
as a percent of employment
(3 months ended) |
|---|
Sept.
2023 | Dec.
2023 | Mar.
2024 | June
2024 | Sept.
2024 | Sept.
2023 | Dec.
2023 | Mar.
2024 | June
2024 | Sept.
2024 |
|---|
Total private | |
|---|
Gross job gains | 2,058 | 1,521 | 1,423 | 1,087 | 1,100 | 8.2 | 6.0 | 5.6 | 4.3 | 4.4 |
|---|
At expanding establishments | 1,424 | 1,290 | 1,186 | 994 | 877 | 5.7 | 5.1 | 4.7 | 3.9 | 3.5 |
|---|
At opening establishments | 634 | 231 | 237 | 93 | 223 | 2.5 | 0.9 | 0.9 | 0.4 | 0.9 |
|---|
Gross job losses | 1,705 | 1,471 | 1,140 | 1,292 | 1,526 | 6.8 | 5.9 | 4.5 | 5.1 | 6.1 |
|---|
At contracting establishments | 1,272 | 978 | 913 | 883 | 1,018 | 5.1 | 3.9 | 3.6 | 3.5 | 4.1 |
|---|
At closing establishments | 433 | 493 | 227 | 409 | 508 | 1.7 | 2.0 | 0.9 | 1.6 | 2.0 |
|---|
Net employment change | 353 | 50 | 283 | -205 | -426 | 1.4 | 0.1 | 1.1 | -0.8 | -1.7 |
|---|
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) |
|---|
Sept.
2023 | Dec.
2023 | Mar.
2024 | June
2024 | Sept.
2024 | Sept.
2023 | Dec.
2023 | Mar.
2024 | June
2024 | Sept.
2024 |
|---|
United States | 5.9 | 6.0 | 5.7 | 5.8 | 5.8 | 6.0 | 5.7 | 5.4 | 5.9 | 5.8 |
|---|
Alabama | 6.0 | 6.2 | 5.7 | 5.6 | 5.7 | 6.0 | 5.7 | 5.5 | 5.6 | 5.9 |
|---|
Alaska | 8.5 | 10.2 | 10.5 | 10.2 | 7.9 | 10.5 | 9.9 | 8.6 | 9.6 | 9.7 |
|---|
Arizona | 6.8 | 6.5 | 8.4 | 5.6 | 6.3 | 5.7 | 6.6 | 6.4 | 6.8 | 6.5 |
|---|
Arkansas | 5.6 | 6.2 | 5.6 | 5.2 | 5.2 | 5.8 | 5.0 | 5.2 | 5.8 | 5.2 |
|---|
California | 6.4 | 6.4 | 5.8 | 6.1 | 6.4 | 6.5 | 6.4 | 5.6 | 6.8 | 6.1 |
|---|
Colorado | 5.4 | 8.2 | 6.4 | 6.5 | 6.3 | 6.1 | 7.6 | 7.7 | 6.2 | 6.7 |
|---|
Connecticut | 5.8 | 5.6 | 5.6 | 5.8 | 5.5 | 6.2 | 5.7 | 5.2 | 5.6 | 5.7 |
|---|
Delaware | 6.0 | 6.1 | 6.0 | 5.9 | 6.8 | 6.5 | 5.8 | 5.1 | 6.5 | 6.4 |
|---|
District of Columbia | 5.4 | 5.2 | 5.1 | 5.1 | 4.9 | 5.4 | 5.6 | 4.9 | 6.0 | 5.0 |
|---|
Florida | 6.5 | 6.1 | 5.8 | 6.0 | 6.6 | 5.9 | 5.9 | 5.4 | 5.9 | 5.7 |
|---|
Georgia | 6.1 | 6.2 | 6.0 | 5.7 | 5.7 | 6.1 | 5.7 | 5.7 | 5.7 | 6.1 |
|---|
Hawaii | 5.3 | 6.1 | 5.4 | 5.1 | 5.6 | 6.8 | 5.0 | 5.1 | 5.4 | 5.0 |
|---|
Idaho | 7.2 | 8.5 | 7.9 | 7.5 | 7.2 | 7.9 | 5.8 | 8.3 | 7.4 | 7.6 |
|---|
Illinois | 4.8 | 5.0 | 5.1 | 5.2 | 5.0 | 5.3 | 5.1 | 4.8 | 5.3 | 5.1 |
|---|
Indiana | 5.7 | 5.5 | 5.3 | 5.2 | 5.3 | 5.7 | 5.1 | 5.0 | 5.5 | 5.4 |
|---|
Iowa | 5.6 | 6.1 | 6.1 | 5.5 | 5.2 | 5.8 | 5.7 | 5.6 | 5.7 | 6.0 |
|---|
Kansas | 5.7 | 5.8 | 5.7 | 5.8 | 5.3 | 6.0 | 5.3 | 5.6 | 5.7 | 5.6 |
|---|
Kentucky | 5.7 | 5.7 | 5.7 | 5.2 | 5.4 | 5.6 | 5.2 | 5.0 | 5.9 | 5.5 |
|---|
Louisiana | 6.2 | 6.3 | 6.2 | 5.7 | 6.1 | 6.0 | 5.8 | 5.7 | 6.3 | 5.8 |
|---|
Maine | 7.0 | 7.4 | 7.2 | 7.3 | 6.2 | 7.8 | 7.0 | 6.1 | 7.0 | 7.0 |
|---|
Maryland | 6.3 | 6.2 | 5.8 | 7.2 | 6.1 | 6.4 | 5.8 | 5.7 | 6.5 | 6.1 |
|---|
Massachusetts | 5.4 | 5.5 | 5.2 | 5.7 | 4.9 | 5.9 | 5.5 | 5.1 | 5.6 | 5.8 |
|---|
Michigan | 5.2 | 5.5 | 5.4 | 5.7 | 5.4 | 5.9 | 5.5 | 5.2 | 5.6 | 5.8 |
|---|
Minnesota | 3.3 | 6.9 | 5.8 | 5.7 | 5.1 | 4.3 | 6.9 | 5.7 | 5.4 | 5.9 |
|---|
Mississippi | 6.2 | 6.1 | 5.7 | 5.8 | 6.1 | 6.2 | 5.7 | 6.1 | 6.3 | 5.7 |
|---|
Missouri | 5.6 | 6.0 | 5.7 | 5.6 | 5.5 | 5.8 | 5.6 | 5.3 | 5.8 | 5.8 |
|---|
Montana | 7.7 | 8.8 | 8.1 | 7.9 | 7.3 | 8.4 | 7.2 | 7.5 | 7.6 | 8.1 |
|---|
Nebraska | 6.0 | 5.9 | 5.8 | 5.4 | 5.6 | 5.9 | 5.7 | 5.1 | 5.6 | 5.6 |
|---|
Nevada | 6.5 | 6.7 | 5.9 | 5.8 | 6.1 | 5.6 | 5.4 | 6.2 | 5.7 | 5.9 |
|---|
New Hampshire | 5.8 | 6.2 | 6.5 | 6.1 | 5.5 | 6.7 | 5.9 | 5.8 | 6.0 | 6.7 |
|---|
New Jersey | 6.0 | 5.9 | 5.5 | 5.9 | 5.3 | 6.0 | 5.8 | 5.4 | 5.4 | 5.8 |
|---|
New Mexico | 6.4 | 6.9 | 6.0 | 6.0 | 6.2 | 6.8 | 5.8 | 6.0 | 6.3 | 6.3 |
|---|
New York | 5.8 | 5.7 | 5.9 | 5.9 | 5.6 | 6.0 | 5.6 | 5.0 | 5.5 | 5.7 |
|---|
North Carolina | 5.7 | 6.3 | 5.4 | 5.6 | 5.6 | 6.1 | 4.9 | 5.5 | 5.7 | 6.1 |
|---|
North Dakota | 6.6 | 6.7 | 6.9 | 6.6 | 6.5 | 6.6 | 6.3 | 6.1 | 6.6 | 6.6 |
|---|
Ohio | 5.2 | 5.4 | 5.5 | 5.2 | 5.1 | 5.6 | 5.2 | 4.8 | 5.4 | 5.4 |
|---|
Oklahoma | 6.3 | 6.1 | 5.6 | 5.6 | 6.0 | 6.0 | 5.8 | 5.2 | 6.4 | 5.6 |
|---|
Oregon | 6.1 | 6.2 | 6.4 | 6.0 | 6.3 | 6.7 | 6.2 | 6.1 | 6.4 | 6.6 |
|---|
Pennsylvania | 5.2 | 5.2 | 5.1 | 4.9 | 5.1 | 5.1 | 4.8 | 4.6 | 5.1 | 5.1 |
|---|
Rhode Island | 6.4 | 6.8 | 6.9 | 6.6 | 6.2 | 6.7 | 6.3 | 5.7 | 6.7 | 6.5 |
|---|
South Carolina | 6.6 | 6.2 | 6.4 | 5.9 | 6.2 | 5.7 | 5.3 | 6.3 | 6.4 | 5.9 |
|---|
South Dakota | 6.3 | 6.6 | 6.3 | 6.0 | 5.9 | 6.3 | 5.8 | 5.8 | 6.3 | 5.9 |
|---|
Tennessee | 5.6 | 6.2 | 5.5 | 5.5 | 5.6 | 5.7 | 5.5 | 4.9 | 5.7 | 5.8 |
|---|
Texas | 5.7 | 5.7 | 5.4 | 5.4 | 5.6 | 5.5 | 5.2 | 5.1 | 5.3 | 5.3 |
|---|
Utah | 6.9 | 6.6 | 6.7 | 6.4 | 6.6 | 6.6 | 6.5 | 6.0 | 6.6 | 6.1 |
|---|
Vermont | 6.4 | 7.3 | 7.2 | 6.6 | 6.6 | 7.9 | 6.6 | 6.3 | 7.5 | 7.3 |
|---|
Virginia | 5.9 | 5.9 | 5.7 | 5.7 | 5.8 | 6.0 | 5.5 | 5.2 | 5.6 | 5.5 |
|---|
Washington | 5.8 | 6.0 | 5.7 | 5.7 | 5.7 | 6.0 | 5.4 | 5.3 | 5.3 | 5.4 |
|---|
West Virginia | 6.5 | 6.5 | 6.9 | 6.6 | 5.8 | 6.6 | 5.8 | 5.7 | 6.8 | 6.6 |
|---|
Wisconsin | 5.2 | 5.5 | 5.5 | 5.3 | 5.0 | 5.8 | 5.2 | 4.8 | 5.5 | 5.4 |
|---|
Wyoming | 8.3 | 8.9 | 8.4 | 8.2 | 8.6 | 8.2 | 8.4 | 8.3 | 9.0 | 9.0 |
|---|
Puerto Rico | 5.7 | 4.9 | 5.4 | 5.6 | 5.4 | 5.3 | 4.8 | 4.6 | 4.9 | 5.1 |
|---|
Virgin Islands | 8.2 | 6.0 | 5.6 | 4.3 | 4.4 | 6.8 | 5.9 | 4.5 | 5.1 | 6.1 |
|---|
United States Department of Labor
