Business Employment Dynamics – First Quarter 2023
From December 2022 to March 2023, gross job gains from opening and expanding private-sector establishments were 8.0 million, a decrease of 67,000 jobs from the previous quarter, the U.S. Bureau of Labor Statistics reported today. Over this period, gross job losses from closing and contracting private sector establishments were 7.1 million, a decrease of 565,000 jobs from the previous quarter. The
difference between the number of gross job gains and the number of gross job losses yielded a net employment gain of 976,000 jobs in the private sector during the first quarter of 2023.
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 Technical Note.) 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.