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News Release Information

25-220-BOS
Friday, February 14, 2025

Contacts Technical information: Media contact:
  • (617) 565-4141

Business Employment Dynamics in New York — Second Quarter 2024

From March 2024 to June 2024, gross job gains from opening and expanding private-sector establishments in New York were 482,351, while gross job losses from closing and contracting private-sector establishments were 458,336, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner William J. Sibley noted that the difference between the number of gross job gains and the number of gross job losses yielded a net employment gain of 24,015 jobs in the private sector during the second quarter of 2024. During the previous quarter, gross job gains exceeded gross job losses by 78,833. (See chart 1.)

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 gains

In the second quarter of 2024, gross job gains represented 5.9 percent of private-sector employment in New York; nationally, gross job gains accounted for 5.8 percent of private-sector employment. (See chart 2.) 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 New York, gross job gains at expanding establishments totaled 387,057 in the second quarter of 2024, a decrease of 544 jobs compared to the previous quarter. (See table 1.) Opening establishments accounted for 95,294 jobs gained in the second quarter of 2024, a decrease of 5,447 jobs from the previous quarter.

Gross job losses

In the second quarter of 2024, gross job losses represented 5.5 percent of private-sector employment in New York; nationally, gross job losses accounted for 5.9 percent of private-sector employment. (See chart 3.) Gross job losses are the result of contractions in employment at existing establishments and the loss of jobs at closing establishments. In New York, contracting establishments lost 364,167 jobs in the second quarter of 2024, an increase of 39,444 jobs from the prior quarter. Closing establishments lost 94,169 jobs, an increase of 9,383 jobs from the previous quarter.

Industries

Gross job gains exceeded gross job losses in 4 of the 11 published industry sectors in New York in the second quarter of 2024. Education and health services had the largest over-the-quarter net job increase, with a gain of 12,337 jobs. This was the result of 91,704 gross job gains and 79,367 gross job losses. The professional and business services industry had a net gain of 12,174 jobs. Construction showed a net loss of 8,242 jobs, the largest loss of any sector in the state. New York’s retail trade industry had a net loss of 7,483 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 Home.

The Business Employment Dynamics for Third Quarter 2024 are scheduled to be released on Wednesday, May 7, 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, New York, seasonally adjusted
Category Gross job gains and losses
(3 months ended)
Gross job gains and losses
as a percent of employment
(3 months ended)
June
2023
Sept.
2023
Dec.
2023
Mar.
2024
June
2024
June
2023
Sept.
2023
Dec.
2023
Mar.
2024
June
2024

Total private (1)

Gross job gains

508,264 473,385 461,485 488,342 482,351 6.2 5.8 5.7 5.9 5.9

At expanding establishments

409,091 373,853 363,921 387,601 387,057 5.0 4.6 4.5 4.7 4.7

At opening establishments

99,173 99,532 97,564 100,741 95,294 1.2 1.2 1.2 1.2 1.2

Gross job losses

471,042 488,435 459,785 409,509 458,336 5.8 6.0 5.6 5.0 5.5

At contracting establishments

371,903 384,018 359,009 324,723 364,167 4.6 4.7 4.4 4.0 4.4

At closing establishments

99,139 104,417 100,776 84,786 94,169 1.2 1.3 1.2 1.0 1.1

Net employment change (2)

37,222 -15,050 1,700 78,833 24,015 0.4 -0.2 0.1 0.9 0.4

Construction

Gross job gains

37,071 34,380 35,521 39,579 33,574 9.4 8.9 9.2 10.1 8.5

At expanding establishments

28,876 26,433 27,657 31,004 26,487 7.3 6.8 7.2 7.9 6.7

At opening establishments

8,195 7,947 7,864 8,575 7,087 2.1 2.1 2.0 2.2 1.8

Gross job losses

41,613 40,163 37,975 31,366 41,816 10.5 10.4 9.9 8.0 10.6

At contracting establishments

31,692 30,638 28,465 23,667 31,517 8.0 7.9 7.4 6.0 8.0

At closing establishments

9,921 9,525 9,510 7,699 10,299 2.5 2.5 2.5 2.0 2.6

Net employment change (2)

-4,542 -5,783 -2,454 8,213 -8,242 -1.1 -1.5 -0.7 2.1 -2.1

Manufacturing

Gross job gains

15,286 15,211 13,466 13,604 14,098 3.6 3.7 3.2 3.3 3.4

At expanding establishments

13,490 12,843 11,807 12,090 12,224 3.2 3.1 2.8 2.9 2.9

At opening establishments

1,796 2,368 1,659 1,514 1,874 0.4 0.6 0.4 0.4 0.5

Gross job losses

16,585 17,747 16,384 13,932 17,235 3.9 4.2 3.9 3.3 4.1

At contracting establishments

13,906 15,275 13,779 12,277 14,252 3.3 3.6 3.3 2.9 3.4

At closing establishments

2,679 2,472 2,605 1,655 2,983 0.6 0.6 0.6 0.4 0.7

Net employment change (2)

-1,299 -2,536 -2,918 -328 -3,137 -0.3 -0.5 -0.7 0.0 -0.7

Wholesale trade

Gross job gains

13,690 12,472 12,991 12,419 12,869 4.4 4.0 4.2 4.0 4.1

At expanding establishments

11,294 9,969 10,337 10,378 10,877 3.6 3.2 3.3 3.3 3.5

At opening establishments

2,396 2,503 2,654 2,041 1,992 0.8 0.8 0.9 0.7 0.6

Gross job losses

13,919 13,847 14,129 12,368 13,617 4.5 4.4 4.5 3.9 4.3

At contracting establishments

10,514 10,378 10,286 9,730 10,413 3.4 3.3 3.3 3.1 3.3

At closing establishments

3,405 3,469 3,843 2,638 3,204 1.1 1.1 1.2 0.8 1.0

Net employment change (2)

-229 -1,375 -1,138 51 -748 -0.1 -0.4 -0.3 0.1 -0.2

Retail trade

Gross job gains

52,180 47,649 40,749 48,181 44,549 6.1 5.6 4.9 5.7 5.3

At expanding establishments

44,064 39,760 34,451 42,958 39,031 5.2 4.7 4.1 5.1 4.6

At opening establishments

8,116 7,889 6,298 5,223 5,518 0.9 0.9 0.8 0.6 0.7

Gross job losses

55,002 56,497 51,081 39,877 52,032 6.4 6.6 6.1 4.8 6.1

At contracting establishments

46,549 46,258 43,172 33,263 44,886 5.4 5.4 5.2 4.0 5.3

At closing establishments

8,453 10,239 7,909 6,614 7,146 1.0 1.2 0.9 0.8 0.8

Net employment change (2)

-2,822 -8,848 -10,332 8,304 -7,483 -0.3 -1.0 -1.2 0.9 -0.8

Transportation and warehousing

Gross job gains

15,041 13,864 25,985 11,017 12,798 5.3 4.9 9.0 3.8 4.4

At expanding establishments

13,216 12,073 19,401 9,087 11,579 4.7 4.3 6.7 3.1 4.0

At opening establishments

1,825 1,791 6,584 1,930 1,219 0.6 0.6 2.3 0.7 0.4

Gross job losses

15,493 14,795 12,547 18,574 15,386 5.4 5.2 4.3 6.3 5.3

At contracting establishments

13,095 12,261 10,373 16,719 13,407 4.6 4.3 3.6 5.7 4.6

At closing establishments

2,398 2,534 2,174 1,855 1,979 0.8 0.9 0.7 0.6 0.7

Net employment change (2)

-452 -931 13,438 -7,557 -2,588 -0.1 -0.3 4.7 -2.5 -0.9

Information

Gross job gains

11,816 12,517 14,872 17,120 12,002 4.0 4.5 5.4 6.1 4.3

At expanding establishments

9,075 8,634 12,750 15,463 9,738 3.1 3.1 4.6 5.5 3.5

At opening establishments

2,741 3,883 2,122 1,657 2,264 0.9 1.4 0.8 0.6 0.8

Gross job losses

23,840 22,179 14,141 11,671 16,567 8.3 8.0 5.2 4.2 5.9

At contracting establishments

20,492 18,676 10,915 9,399 14,198 7.1 6.7 4.0 3.4 5.1

At closing establishments

3,348 3,503 3,226 2,272 2,369 1.2 1.3 1.2 0.8 0.8

Net employment change (2)

-12,024 -9,662 731 5,449 -4,565 -4.3 -3.5 0.2 1.9 -1.6

Financial activities

Gross job gains

33,129 27,897 25,025 25,596 31,140 4.5 3.8 3.4 3.5 4.2

At expanding establishments

27,840 21,876 19,249 20,746 25,812 3.8 3.0 2.6 2.8 3.5

At opening establishments

5,289 6,021 5,776 4,850 5,328 0.7 0.8 0.8 0.7 0.7

Gross job losses

23,991 34,557 31,728 26,373 26,581 3.2 4.7 4.4 3.6 3.6

At contracting establishments

18,670 26,955 23,841 20,452 19,975 2.5 3.7 3.3 2.8 2.7

At closing establishments

5,321 7,602 7,887 5,921 6,606 0.7 1.0 1.1 0.8 0.9

Net employment change (2)

9,138 -6,660 -6,703 -777 4,559 1.3 -0.9 -1.0 -0.1 0.6

Professional and business services

Gross job gains

94,795 83,749 73,606 77,616 86,718 6.8 6.0 5.3 5.6 6.2

At expanding establishments

75,530 65,287 58,122 63,270 70,828 5.4 4.7 4.2 4.6 5.1

At opening establishments

19,265 18,462 15,484 14,346 15,890 1.4 1.3 1.1 1.0 1.1

Gross job losses

85,125 89,136 88,910 72,805 74,544 6.2 6.4 6.4 5.2 5.4

At contracting establishments

63,244 67,796 66,713 55,787 56,699 4.6 4.9 4.8 4.0 4.1

At closing establishments

21,881 21,340 22,197 17,018 17,845 1.6 1.5 1.6 1.2 1.3

Net employment change (2)

9,670 -5,387 -15,304 4,811 12,174 0.6 -0.4 -1.1 0.4 0.8

Education and health services

Gross job gains

92,532 98,419 90,762 95,938 91,704 4.4 4.7 4.3 4.5 4.2

At expanding establishments

83,326 87,830 83,065 89,012 82,840 4.0 4.2 3.9 4.2 3.8

At opening establishments

9,206 10,589 7,697 6,926 8,864 0.4 0.5 0.4 0.3 0.4

Gross job losses

75,255 67,327 71,369 66,532 79,367 3.6 3.3 3.4 3.1 3.7

At contracting establishments

64,263 57,737 60,651 56,236 69,415 3.1 2.8 2.9 2.6 3.2

At closing establishments

10,992 9,590 10,718 10,296 9,952 0.5 0.5 0.5 0.5 0.5

Net employment change (2)

17,277 31,092 19,393 29,406 12,337 0.8 1.4 0.9 1.4 0.5

Leisure and hospitality

Gross job gains

96,086 86,735 82,834 88,491 91,774 10.5 9.5 9.1 9.5 9.9

At expanding establishments

74,009 65,725 62,896 67,925 71,777 8.1 7.2 6.9 7.3 7.7

At opening establishments

22,077 21,010 19,938 20,566 19,997 2.4 2.3 2.2 2.2 2.2

Gross job losses

81,990 93,985 83,816 80,934 84,940 9.0 10.2 9.1 8.7 9.1

At contracting establishments

64,723 74,458 67,369 64,223 66,425 7.1 8.1 7.3 6.9 7.1

At closing establishments

17,267 19,527 16,447 16,711 18,515 1.9 2.1 1.8 1.8 2.0

Net employment change (2)

14,096 -7,250 -982 7,557 6,834 1.5 -0.7 0.0 0.8 0.8

Other services (3)

Gross job gains

24,176 22,207 20,881 21,289 22,145 7.5 6.8 6.4 6.6 6.8

At expanding establishments

19,286 16,948 16,654 17,302 18,131 6.0 5.2 5.1 5.4 5.6

At opening establishments

4,890 5,259 4,227 3,987 4,014 1.5 1.6 1.3 1.2 1.2

Gross job losses

22,192 22,734 22,674 21,022 22,154 6.8 7.0 7.0 6.6 6.8

At contracting establishments

16,306 16,773 17,439 16,008 16,193 5.0 5.2 5.4 5.0 5.0

At closing establishments

5,886 5,961 5,235 5,014 5,961 1.8 1.8 1.6 1.6 1.8

Net employment change (2)

1,984 -527 -1,793 267 -9 0.7 -0.2 -0.6 0.0 0.0

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. See the Technical Note for further information.
(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)
June
2023
Sept.
2023
Dec.
2023
Mar.
2024
June
2024
June
2023
Sept.
2023
Dec.
2023
Mar.
2024
June
2024

United States(1)

6.2 5.9 6.0 5.7 5.8 5.9 6.0 5.7 5.4 5.9

Alabama

6.0 6.0 6.2 5.7 5.6 5.7 6.0 5.7 5.5 5.6

Alaska

11.0 8.5 10.2 10.5 10.2 8.9 10.5 9.9 8.6 9.6

Arizona

7.0 6.8 6.5 8.4 5.6 6.3 5.7 6.6 6.4 6.8

Arkansas

5.9 5.6 6.2 5.6 5.2 6.0 5.8 5.0 5.2 5.8

California

6.8 6.4 6.4 5.8 6.1 6.4 6.5 6.4 5.6 6.8

Colorado

7.3 5.4 8.2 6.4 6.5 6.5 6.1 7.6 7.7 6.2

Connecticut

6.4 5.8 5.6 5.6 5.8 5.7 6.2 5.7 5.2 5.6

Delaware

6.4 6.0 6.1 6.0 5.9 5.8 6.5 5.8 5.1 6.5

District of Columbia

5.4 5.4 5.2 5.1 5.1 5.3 5.4 5.6 4.9 6.0

Florida

6.8 6.5 6.1 5.8 6.0 5.9 5.9 5.9 5.4 5.9

Georgia

6.3 6.1 6.2 6.0 5.7 6.4 6.1 5.7 5.7 5.7

Hawaii

5.7 5.3 6.1 5.4 5.1 5.3 6.8 5.0 5.1 5.4

Idaho

7.8 7.2 8.5 7.9 7.5 7.4 7.9 5.8 8.3 7.4

Illinois

5.4 4.8 5.0 5.1 5.2 5.2 5.3 5.1 4.8 5.3

Indiana

5.6 5.7 5.5 5.3 5.2 5.8 5.7 5.1 5.0 5.5

Iowa

6.0 5.6 6.1 6.1 5.5 5.9 5.8 5.7 5.6 5.7

Kansas

6.1 5.7 5.8 5.7 5.8 6.0 6.0 5.3 5.6 5.7

Kentucky

5.6 5.7 5.7 5.7 5.2 5.9 5.6 5.2 5.0 5.9

Louisiana

6.0 6.2 6.3 6.2 5.7 6.5 6.0 5.8 5.7 6.3

Maine

7.6 7.0 7.4 7.2 7.3 7.6 7.8 7.0 6.1 7.0

Maryland

6.7 6.3 6.2 5.8 7.2 6.6 6.4 5.8 5.7 6.5

Massachusetts

5.9 5.4 5.5 5.2 5.7 5.6 5.9 5.5 5.1 5.6

Michigan

5.9 5.2 5.5 5.4 5.7 5.3 5.9 5.5 5.2 5.6

Minnesota

6.0 3.3 6.9 5.8 5.7 5.5 4.3 6.9 5.7 5.4

Mississippi

6.4 6.2 6.1 5.7 5.8 6.5 6.2 5.7 6.1 6.3

Missouri

5.8 5.6 6.0 5.7 5.6 5.9 5.8 5.6 5.3 5.8

Montana

7.8 7.7 8.8 8.1 7.9 8.4 8.4 7.2 7.5 7.6

Nebraska

6.2 6.0 5.9 5.8 5.4 5.7 5.9 5.7 5.1 5.6

Nevada

6.5 6.5 6.7 5.9 5.8 5.9 5.6 5.4 6.2 5.7

New Hampshire

6.7 5.8 6.2 6.5 6.1 6.3 6.7 5.9 5.8 6.0

New Jersey

6.4 6.0 5.9 5.5 5.9 6.0 6.0 5.8 5.4 5.4

New Mexico

6.6 6.4 6.9 6.0 6.0 6.3 6.8 5.8 6.0 6.3

New York

6.2 5.8 5.7 5.9 5.9 5.8 6.0 5.6 5.0 5.5

North Carolina

6.1 5.7 6.3 5.4 5.6 5.7 6.1 4.9 5.5 5.7

North Dakota

6.9 6.6 6.7 6.9 6.6 6.7 6.6 6.3 6.1 6.6

Ohio

5.6 5.2 5.4 5.5 5.2 5.6 5.6 5.2 4.8 5.4

Oklahoma

6.3 6.3 6.1 5.6 5.6 6.1 6.0 5.8 5.2 6.4

Oregon

6.4 6.1 6.2 6.4 6.0 6.6 6.7 6.2 6.1 6.4

Pennsylvania

5.2 5.2 5.2 5.1 4.9 5.5 5.1 4.8 4.6 5.1

Rhode Island

6.7 6.4 6.8 6.9 6.6 6.8 6.7 6.3 5.7 6.7

South Carolina

6.4 6.6 6.2 6.4 5.9 6.6 5.7 5.3 6.3 6.4

South Dakota

6.7 6.3 6.6 6.3 6.0 6.0 6.3 5.8 5.8 6.3

Tennessee

5.8 5.6 6.2 5.5 5.5 5.5 5.7 5.5 4.9 5.7

Texas

5.8 5.7 5.7 5.4 5.4 5.4 5.5 5.2 5.1 5.3

Utah

6.9 6.9 6.6 6.7 6.4 6.4 6.6 6.5 6.0 6.6

Vermont

7.4 6.4 7.3 7.2 6.6 7.5 7.9 6.6 6.3 7.5

Virginia

6.1 5.9 5.9 5.7 5.7 5.9 6.0 5.5 5.2 5.6

Washington

6.1 5.8 6.0 5.7 5.7 5.7 6.0 5.4 5.3 5.3

West Virginia

6.1 6.5 6.5 6.9 6.6 6.4 6.6 5.8 5.7 6.8

Wisconsin

5.6 5.2 5.5 5.5 5.3 5.8 5.8 5.2 4.8 5.5

Wyoming

8.4 8.3 8.9 8.4 8.2 8.7 8.2 8.4 8.3 9.0

Puerto Rico

5.9 5.7 4.9 5.4 5.6 5.0 5.3 4.8 4.6 4.9

Virgin Islands

7.5 8.2 6.0 5.6 4.3 6.5 6.8 5.9 4.5 5.1

Footnotes
(1) Totals for the United States do not include data for Puerto Rico or the Virgin Islands. The sum of the states will not necessarily add to the U.S. total because of the independent seasonal adjustment of each state.

 

Last Modified Date: Friday, February 14, 2025