BLS - U.S. Bureau of Labor Statistics

11/07/2024 | Press release | Distributed by Public on 11/07/2024 10:20

Business Employment Dynamics in North Carolina — First Quarter 2024

News Release Information

24-2292-ATL
Thursday, November 07, 2024

From December 2023 to March 2024, gross job gains from opening and expanding private-sector establishments in North Carolina were 226,681, while gross job losses from closing and contracting private-sector establishments were 226,676, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Victoria G. Lee noted that the difference between the number of gross job gains and the number of gross job losses yielded a net employment gain of five jobs in the private sector during the first quarter of 2024. During the previous quarter, gross job gains exceeded gross job losses by 58,006. (See chart 1.)

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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 first quarter of 2024, gross job gains represented 5.4 percent of private-sector employment in North Carolina; nationally, gross job gains accounted for 5.7 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 North Carolina, gross job gains at expanding establishments totaled 187,699 in the first quarter of 2024, a decrease of 12,991 jobs compared to the previous quarter. (See table 1.) Opening establishments accounted for 38,982 jobs gained in the first quarter of 2024, a decrease of 21,913 jobs from the previous quarter.

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Gross job losses

In the first quarter of 2024, gross job losses represented 5.5 percent of private-sector employment in North Carolina; nationally, gross job losses accounted for 5.4 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 North Carolina, contracting establishments lost 173,549 jobs in the first quarter of 2024, a decrease of 2,431 jobs from the prior quarter. Closing establishments lost 53,127 jobs, an increase of 25,528 jobs from the previous quarter.

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Industries

Gross job gains exceeded gross job losses in 6 of the 11 industry sectors in North Carolina in the first quarter of 2024. Education and health services had the largest over-the-quarter net job increase, with a gain of 4,807 jobs. This was the result of 31,721 gross job gains and 26,914 gross job losses. The construction industry had a net gain of 2,043 jobs, followed by retail trade with a net gain of 1,835 jobs. Professional and business services showed a net loss of 4,601 jobs, the largest loss of any sector in the state. North Carolina's transportation and warehousing industry sector had a net loss of 4,462 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 Second Quarter 2024 are scheduled to be released on Wednesday, January 29, 2025, at 10:00 a.m. (ET).

Revisions to Business Employment Dynamics (BED) Data

Data in this release contain annual revisions in accordance with standard procedures. These revisions include the previous four quarters of not seasonally adjusted data and five years of seasonally adjusted data.


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.

Category Gross job gains and losses
(3 months ended) 		Gross job gains and losses
as a percent of employment
(3 months ended)
Mar.
2023 		June
2023 		Sept.
2023 		Dec.
2023 		Mar.
2024 		Mar.
2023 		June
2023 		Sept.
2023 		Dec.
2023 		Mar.
2024

Total private

Gross job gains

267,982 248,920 236,764 261,585 226,681 6.6 6.1 5.7 6.3 5.4

At expanding establishments

211,219 200,284 190,453 200,690 187,699 5.2 4.9 4.6 4.8 4.5

At opening establishments

56,763 48,636 46,311 60,895 38,982 1.4 1.2 1.1 1.5 0.9

Gross job losses

216,247 236,074 252,527 203,579 226,676 5.3 5.7 6.1 4.9 5.5

At contracting establishments

172,781 193,899 199,147 175,980 173,549 4.2 4.7 4.8 4.2 4.2

At closing establishments

43,466 42,175 53,380 27,599 53,127 1.1 1.0 1.3 0.7 1.3

Net employment change

51,735 12,846 -15,763 58,006 5 1.3 0.4 -0.4 1.4 -0.1

Construction

Gross job gains

21,647 17,745 18,133 23,157 18,595 8.4 6.8 6.9 8.7 6.8

At expanding establishments

15,964 13,532 13,886 17,269 15,238 6.2 5.2 5.3 6.5 5.6

At opening establishments

5,683 4,213 4,247 5,888 3,357 2.2 1.6 1.6 2.2 1.2

Gross job losses

14,641 16,862 17,883 13,113 16,552 5.7 6.5 6.9 4.9 6.1

At contracting establishments

10,927 12,817 13,020 10,999 12,044 4.3 4.9 5.0 4.1 4.4

At closing establishments

3,714 4,045 4,863 2,114 4,508 1.4 1.6 1.9 0.8 1.7

Net employment change

7,006 883 250 10,044 2,043 2.7 0.3 0.0 3.8 0.7

Manufacturing

Gross job gains

14,783 13,475 13,467 14,182 13,525 3.2 2.9 2.9 3.0 2.8

At expanding establishments

13,070 12,245 12,085 12,590 12,384 2.8 2.6 2.6 2.7 2.6

At opening establishments

1,713 1,230 1,382 1,592 1,141 0.4 0.3 0.3 0.3 0.2

Gross job losses

14,013 15,430 19,723 14,458 14,028 2.9 3.3 4.2 3.1 3.0

At contracting establishments

12,526 14,151 16,691 13,018 12,212 2.6 3.0 3.6 2.8 2.6

At closing establishments

1,487 1,279 3,032 1,440 1,816 0.3 0.3 0.6 0.3 0.4

Net employment change

770 -1,955 -6,256 -276 -503 0.3 -0.4 -1.3 -0.1 -0.2

Wholesale trade

Gross job gains

10,026 10,697 9,380 10,326 9,667 4.9 5.1 4.5 4.9 4.6

At expanding establishments

7,792 8,302 7,805 7,755 7,511 3.8 4.0 3.7 3.7 3.6

At opening establishments

2,234 2,395 1,575 2,571 2,156 1.1 1.1 0.8 1.2 1.0

Gross job losses

8,238 8,755 10,227 8,173 8,956 4.0 4.2 4.9 3.9 4.2

At contracting establishments

6,521 6,655 7,528 6,943 6,347 3.2 3.2 3.6 3.3 3.0

At closing establishments

1,717 2,100 2,699 1,230 2,609 0.8 1.0 1.3 0.6 1.2

Net employment change

1,788 1,942 -847 2,153 711 0.9 0.9 -0.4 1.0 0.4

Retail trade

Gross job gains

30,962 28,855 27,004 27,295 25,888 5.9 5.5 5.1 5.2 4.9

At expanding establishments

25,484 24,689 23,606 22,498 22,180 4.9 4.7 4.5 4.3 4.2

At opening establishments

5,478 4,166 3,398 4,797 3,708 1.0 0.8 0.6 0.9 0.7

Gross job losses

26,377 28,511 28,400 26,512 24,053 5.0 5.4 5.4 5.1 4.5

At contracting establishments

22,614 24,762 23,872 23,879 20,148 4.3 4.7 4.5 4.6 3.8

At closing establishments

3,763 3,749 4,528 2,633 3,905 0.7 0.7 0.9 0.5 0.7

Net employment change

4,585 344 -1,396 783 1,835 0.9 0.1 -0.3 0.1 0.4

Transportation and warehousing

Gross job gains

8,726 12,647 8,722 15,092 8,060 4.7 6.9 4.8 8.2 4.4

At expanding establishments

6,977 10,939 6,944 13,047 6,447 3.8 6.0 3.8 7.1 3.5

At opening establishments

1,749 1,708 1,778 2,045 1,613 0.9 0.9 1.0 1.1 0.9

Gross job losses

14,677 10,750 13,681 7,438 12,522 8.0 5.9 7.6 4.1 6.8

At contracting establishments

13,267 9,097 11,960 6,542 11,085 7.2 5.0 6.6 3.6 6.0

At closing establishments

1,410 1,653 1,721 896 1,437 0.8 0.9 1.0 0.5 0.8

Net employment change

-5,951 1,897 -4,959 7,654 -4,462 -3.3 1.0 -2.8 4.1 -2.4

Information

Gross job gains

5,768 3,937 4,332 4,205 4,181 6.8 4.6 5.2 5.0 4.8

At expanding establishments

4,629 2,886 3,188 2,408 3,377 5.5 3.4 3.8 2.9 3.9

At opening establishments

1,139 1,051 1,144 1,797 804 1.3 1.2 1.4 2.1 0.9

Gross job losses

4,394 4,720 4,766 4,412 3,788 5.2 5.5 5.7 5.2 4.4

At contracting establishments

3,546 3,779 3,292 3,803 2,608 4.2 4.4 3.9 4.5 3.0

At closing establishments

848 941 1,474 609 1,180 1.0 1.1 1.8 0.7 1.4

Net employment change

1,374 -783 -434 -207 393 1.6 -0.9 -0.5 -0.2 0.4

Financial activities

Gross job gains

15,759 18,442 14,240 15,835 13,009 5.3 6.2 4.7 5.3 4.3

At expanding establishments

12,126 15,113 10,931 11,101 10,537 4.1 5.1 3.6 3.7 3.5

At opening establishments

3,633 3,329 3,309 4,734 2,472 1.2 1.1 1.1 1.6 0.8

Gross job losses

13,344 15,082 14,833 12,409 13,371 4.5 5.0 4.9 4.1 4.4

At contracting establishments

9,768 11,668 10,879 10,373 9,622 3.3 3.9 3.6 3.4 3.2

At closing establishments

3,576 3,414 3,954 2,036 3,749 1.2 1.1 1.3 0.7 1.2

Net employment change

2,415 3,360 -593 3,426 -362 0.8 1.2 -0.2 1.2 -0.1

Professional and business services

Gross job gains

57,360 51,250 53,652 53,342 45,263 7.7 6.9 7.2 7.1 6.1

At expanding establishments

44,882 39,443 43,121 38,873 37,037 6.0 5.3 5.8 5.2 5.0

At opening establishments

12,478 11,807 10,531 14,469 8,226 1.7 1.6 1.4 1.9 1.1

Gross job losses

48,311 58,083 54,502 47,423 49,864 6.5 7.8 7.3 6.3 6.6

At contracting establishments

36,954 48,246 41,873 40,564 36,842 5.0 6.5 5.6 5.4 4.9

At closing establishments

11,357 9,837 12,629 6,859 13,022 1.5 1.3 1.7 0.9 1.7

Net employment change

9,049 -6,833 -850 5,919 -4,601 1.2 -0.9 -0.1 0.8 -0.5

Education and health services

Gross job gains

37,647 34,710 34,219 33,663 31,721 5.9 5.3 5.2 5.1 4.8

At expanding establishments

29,800 27,976 28,200 25,673 27,300 4.7 4.3 4.3 3.9 4.1

At opening establishments

7,847 6,734 6,019 7,990 4,421 1.2 1.0 0.9 1.2 0.7

Gross job losses

25,382 26,861 28,068 24,608 26,914 3.9 4.1 4.3 3.7 4.0

At contracting establishments

19,361 21,530 21,566 20,390 19,443 3.0 3.3 3.3 3.1 2.9

At closing establishments

6,021 5,331 6,502 4,218 7,471 0.9 0.8 1.0 0.6 1.1

Net employment change

12,265 7,849 6,151 9,055 4,807 2.0 1.2 0.9 1.4 0.8

Leisure and hospitality

Gross job gains

51,037 45,315 41,848 49,982 45,688 9.8 8.6 7.9 9.3 8.4

At expanding establishments

39,640 36,347 31,332 39,030 36,623 7.6 6.9 5.9 7.3 6.7

At opening establishments

11,397 8,968 10,516 10,952 9,065 2.2 1.7 2.0 2.0 1.7

Gross job losses

35,388 39,930 48,559 35,706 44,678 6.7 7.5 9.2 6.7 8.2

At contracting establishments

28,903 32,380 39,666 31,498 34,282 5.5 6.1 7.5 5.9 6.3

At closing establishments

6,485 7,550 8,893 4,208 10,396 1.2 1.4 1.7 0.8 1.9

Net employment change

15,649 5,385 -6,711 14,276 1,010 3.1 1.1 -1.3 2.6 0.2

Other services

Gross job gains

10,413 9,462 9,200 10,609 8,135 8.9 8.0 7.7 8.7 6.6

At expanding establishments

7,705 6,857 7,160 7,420 6,560 6.6 5.8 6.0 6.1 5.3

At opening establishments

2,708 2,605 2,040 3,189 1,575 2.3 2.2 1.7 2.6 1.3

Gross job losses

8,359 7,559 8,810 7,500 9,162 7.1 6.4 7.4 6.2 7.5

At contracting establishments

5,852 5,893 6,303 6,301 6,602 5.0 5.0 5.3 5.2 5.4

At closing establishments

2,507 1,666 2,507 1,199 2,560 2.1 1.4 2.1 1.0 2.1

Net employment change

2,054 1,903 390 3,109 -1,027 1.8 1.6 0.3 2.5 -0.9
Category Gross job gains as a percent of employment
(3 months ended) 		Gross job losses as a percent of employment
(3 months ended)
Mar.
2023 		June
2023 		Sept.
2023 		Dec.
2023 		Mar.
2024 		Mar.
2023 		June
2023 		Sept.
2023 		Dec.
2023 		Mar.
2024

United States

6.3 6.2 5.9 6.0 5.7 5.5 5.9 6.0 5.7 5.4

Alabama

6.5 6.0 6.0 6.2 5.7 5.6 5.7 6.0 5.7 5.5

Alaska

10.5 11.0 8.5 10.2 10.5 8.6 8.9 10.5 9.9 8.6

Arizona

6.0 7.0 6.8 6.5 8.4 5.6 6.3 5.7 6.6 6.4

Arkansas

5.8 5.9 5.6 6.2 5.6 5.1 6.0 5.8 5.0 5.2

California

6.3 6.8 6.4 6.4 5.8 6.6 6.4 6.5 6.4 5.6

Colorado

7.2 7.3 5.4 8.2 6.4 6.5 6.5 6.1 7.6 7.7

Connecticut

6.2 6.4 5.8 5.6 5.6 5.1 5.7 6.2 5.7 5.2

Delaware

6.7 6.4 6.0 6.1 6.0 5.2 5.8 6.5 5.8 5.1

District of Columbia

6.0 5.4 5.4 5.2 5.1 4.9 5.3 5.4 5.6 4.9

Florida

6.3 6.8 6.5 6.1 5.8 5.7 5.9 5.9 5.9 5.4

Georgia

6.5 6.3 6.1 6.2 6.0 6.0 6.4 6.1 5.7 5.7

Hawaii

5.6 5.7 5.3 6.1 5.4 5.1 5.3 6.8 5.0 5.1

Idaho

7.9 7.8 7.2 8.5 7.9 7.3 7.4 7.9 5.8 8.3

Illinois

5.8 5.4 4.8 5.0 5.1 4.8 5.2 5.3 5.1 4.8

Indiana

5.6 5.6 5.7 5.5 5.3 5.1 5.8 5.7 5.1 5.0

Iowa

6.1 6.0 5.6 6.1 6.1 5.4 5.9 5.8 5.7 5.6

Kansas

6.1 6.1 5.7 5.8 5.7 5.4 6.0 6.0 5.3 5.6

Kentucky

6.1 5.6 5.7 5.7 5.7 4.9 5.9 5.6 5.2 5.0

Louisiana

6.5 6.0 6.2 6.3 6.2 5.5 6.5 6.0 5.8 5.7

Maine

7.8 7.6 7.0 7.4 7.2 6.3 7.6 7.8 7.0 6.1

Maryland

7.2 6.7 6.3 6.2 5.8 6.0 6.6 6.4 5.8 5.7

Massachusetts

5.8 5.9 5.4 5.5 5.2 4.9 5.6 5.9 5.5 5.1

Michigan

5.8 5.9 5.2 5.5 5.4 5.0 5.3 5.9 5.5 5.2

Minnesota

5.8 6.0 3.3 6.9 5.8 4.8 5.5 4.3 6.9 5.7

Mississippi

6.5 6.4 6.2 6.1 5.7 6.1 6.5 6.2 5.7 6.1

Missouri

6.5 5.8 5.6 6.0 5.7 5.1 5.9 5.8 5.6 5.3

Montana

8.7 7.8 7.7 8.8 8.1 7.2 8.4 8.4 7.2 7.5

Nebraska

6.5 6.2 6.0 5.9 5.8 5.2 5.7 5.9 5.7 5.1

Nevada

6.2 6.5 6.5 6.7 5.9 5.8 5.9 5.6 5.4 6.2

New Hampshire

7.0 6.7 5.8 6.2 6.5 5.9 6.3 6.7 5.9 5.8

New Jersey

6.3 6.4 6.0 5.9 5.5 5.8 6.0 6.0 5.8 5.4

New Mexico

7.0 6.6 6.4 6.9 6.0 5.8 6.3 6.8 5.8 6.0

New York

6.5 6.2 5.8 5.7 5.9 5.2 5.8 6.0 5.6 5.0

North Carolina

6.6 6.1 5.7 6.3 5.4 5.3 5.7 6.1 4.9 5.5

North Dakota

7.6 6.9 6.6 6.7 6.9 5.7 6.7 6.6 6.3 6.1

Ohio

6.0 5.6 5.2 5.4 5.5 4.8 5.6 5.6 5.2 4.8

Oklahoma

6.3 6.3 6.3 6.1 5.6 5.4 6.1 6.0 5.8 5.2

Oregon

7.6 6.4 6.1 6.2 6.4 5.9 6.6 6.7 6.2 6.1

Pennsylvania

5.5 5.2 5.2 5.2 5.1 4.7 5.5 5.1 4.8 4.6

Rhode Island

7.4 6.7 6.4 6.8 6.9 5.9 6.8 6.7 6.3 5.7

South Carolina

6.8 6.4 6.6 6.2 6.4 5.9 6.6 5.7 5.3 6.3

South Dakota

7.3 6.7 6.3 6.6 6.3 5.9 6.0 6.3 5.8 5.8

Tennessee

5.9 5.8 5.6 6.2 5.5 5.0 5.5 5.7 5.5 4.9

Texas

6.0 5.8 5.7 5.7 5.4 5.1 5.4 5.5 5.2 5.1

Utah

7.0 6.9 6.9 6.6 6.7 6.3 6.4 6.6 6.5 6.0

Vermont

8.4 7.4 6.4 7.3 7.2 6.0 7.5 7.9 6.6 6.3

Virginia

6.2 6.1 5.9 5.9 5.7 5.2 5.9 6.0 5.5 5.2

Washington

6.6 6.1 5.8 6.0 5.7 6.3 5.7 6.0 5.4 5.3

West Virginia

7.3 6.1 6.5 6.5 6.9 5.5 6.4 6.6 5.8 5.7

Wisconsin

6.1 5.6 5.2 5.5 5.5 4.8 5.8 5.8 5.2 4.8

Wyoming

9.0 8.4 8.3 8.9 8.4 7.8 8.7 8.2 8.4 8.3

Puerto Rico

5.1 5.9 5.7 4.9 5.4 5.8 5.0 5.3 4.8 4.6

Virgin Islands

7.9 7.5 8.2 6.0 5.6 7.4 6.5 6.8 5.9 4.5