BLS - U.S. Bureau of Labor Statistics

11/07/2024 | Press release | Archived content

Business Employment Dynamics in Virginia — First Quarter 2024

News Release Information

24-2315-PHI
Thursday, November 07, 2024

Contacts Technical information: Media contact:

Business Employment Dynamics in Virginia - First Quarter 2024

From December 2023 to March 2024, gross job gains from opening and expanding private-sector establishments in Virginia were 191,176, while gross job losses from closing and contracting private-sector establishments were 174,641, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Alexandra Hall Bovee noted that the difference between the number of gross job gains and the number of gross job losses yielded a net employment gain of 16,535 jobs in the private sector during the first quarter of 2024. During the previous quarter, gross job gains exceeded gross job losses by 16,106. (See chart 1.)

View Chart Data
Chart 1. Private-sector gross job gains and losses in Virginia, March 2019-March 2024, seasonally adjusted
Period Gross job gains Gross job losses

Mar. 2019

205,417 176,998

Jun. 2019

196,010 185,390

Sep. 2019

176,146 198,975

Dec. 2019

210,776 178,457

Mar. 2020

181,869 199,620

Jun. 2020

142,920 554,335

Sep. 2020

304,263 157,986

Dec. 2020

213,698 162,464

Mar. 2021

189,905 169,495

Jun. 2021

197,276 187,917

Sep. 2021

214,517 189,328

Dec. 2021

226,683 168,958

Mar. 2022

211,849 186,641

Jun. 2022

209,573 215,574

Sep. 2022

242,881 195,537

Dec. 2022

205,642 190,209

Mar. 2023

206,511 172,366

Jun. 2023

200,818 192,946

Sep. 2023

195,386 199,133

Dec. 2023

199,237 183,131

Mar. 2024

191,176 174,641

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 5.7 percent of private-sector employment in Virginia and nationwide. (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 Virginia, gross job gains at expanding establishments totaled 147,033 in the first quarter of 2024, a decrease of 7,821 jobs compared to the previous quarter. (See table 1.) Opening establishments accounted for 44,143 jobs gained in the first quarter of 2024, a decline of 240 jobs from the previous quarter.

View Chart Data
Chart 2. Private-sector gross job gains as a percent of employment, United States and Virginia, March 2019-March 2024, seasonally adjusted
Period United States Virginia

Mar. 2019

5.9 6.4

Jun. 2019

6.1 6.1

Sep. 2019

5.9 5.5

Dec. 2019

6.2 6.5

Mar. 2020

5.5 5.6

Jun. 2020

4.8 4.6

Sep. 2020

9.5 10.2

Dec. 2020

7.4 7.0

Mar. 2021

6.9 6.1

Jun. 2021

6.8 6.4

Sep. 2021

7.3 6.9

Dec. 2021

7.7 7.2

Mar. 2022

6.7 6.5

Jun. 2022

6.5 6.5

Sep. 2022

6.9 7.5

Dec. 2022

6.3 6.2

Mar. 2023

6.3 6.2

Jun. 2023

6.2 6.1

Sep. 2023

5.9 5.9

Dec. 2023

6.0 5.9

Mar. 2024

5.7 5.7
Gross job losses

In the first quarter of 2024, gross job losses represented 5.2 percent of private-sector employment in Virginia; 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 Virginia, contracting establishments lost 137,930 jobs in the first quarter of 2024, a decrease of 4,026 jobs from the prior quarter. Closing establishments lost 36,711 jobs, a decline of 4,464 jobs from the previous quarter.

View Chart Data
Chart 3. Private-sector gross job losses as a percent of employment, United States and Virginia, March 2019-March 2024, seasonally adjusted
Period United States Virginia

Mar. 2019

5.6 5.5

Jun. 2019

5.9 5.8

Sep. 2019

5.8 6.2

Dec. 2019

5.5 5.6

Mar. 2020

6.3 6.1

Jun. 2020

16.8 18.0

Sep. 2020

5.9 5.3

Dec. 2020

5.7 5.3

Mar. 2021

5.5 5.4

Jun. 2021

5.9 6.1

Sep. 2021

6.1 6.0

Dec. 2021

5.4 5.3

Mar. 2022

5.5 5.8

Jun. 2022

6.2 6.7

Sep. 2022

5.9 6.1

Dec. 2022

5.9 5.8

Mar. 2023

5.5 5.2

Jun. 2023

5.9 5.9

Sep. 2023

6.0 6.0

Dec. 2023

5.7 5.5

Mar. 2024

5.4 5.2
Industries

Gross job gains exceeded gross job losses in 7 of the 11 industry sectors in Virginia in the first quarter of 2024. Education and health services had the largest over-the-quarter net job increase, with a gain of 7,643 jobs. This was the result of 30,718 gross job gains and 23,075 gross job losses. The retail trade industry had a net gain of 4,720 jobs. Transportation and warehousing showed a net loss of 1,774 jobs, the largest loss of any sector in the state.

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.

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.

Table 1. Private-sector gross job gains and losses by industry, Virginia, seasonally adjusted
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 (1)

Gross job gains

206,511 200,818 195,386 199,237 191,176 6.2 6.1 5.9 5.9 5.7

At expanding establishments

159,236 155,610 153,832 154,854 147,033 4.8 4.7 4.6 4.6 4.4

At opening establishments

47,275 45,208 41,554 44,383 44,143 1.4 1.4 1.3 1.3 1.3

Gross job losses

172,366 192,946 199,133 183,131 174,641 5.2 5.9 6.0 5.5 5.2

At contracting establishments

135,892 154,583 153,852 141,956 137,930 4.1 4.7 4.6 4.3 4.1

At closing establishments

36,474 38,363 45,281 41,175 36,711 1.1 1.2 1.4 1.2 1.1

Net employment change (2)

34,145 7,872 -3,747 16,106 16,535 1.0 0.2 -0.1 0.4 0.5

Construction

Gross job gains

15,947 13,852 15,928 15,666 16,088 7.5 6.4 7.5 7.3 7.4

At expanding establishments

12,166 10,772 12,931 12,711 13,552 5.7 5.0 6.1 5.9 6.2

At opening establishments

3,781 3,080 2,997 2,955 2,536 1.8 1.4 1.4 1.4 1.2

Gross job losses

13,492 16,655 14,260 14,122 14,027 6.3 7.7 6.7 6.6 6.4

At contracting establishments

10,469 13,173 10,925 10,695 11,163 4.9 6.1 5.1 5.0 5.1

At closing establishments

3,023 3,482 3,335 3,427 2,864 1.4 1.6 1.6 1.6 1.3

Net employment change (2)

2,455 -2,803 1,668 1,544 2,061 1.2 -1.3 0.8 0.7 1.0

Manufacturing

Gross job gains

7,529 7,707 7,508 7,650 7,793 3.1 3.2 3.1 3.1 3.2

At expanding establishments

6,541 6,542 6,118 6,583 6,796 2.7 2.7 2.5 2.7 2.8

At opening establishments

988 1,165 1,390 1,067 997 0.4 0.5 0.6 0.4 0.4

Gross job losses

6,700 7,695 8,851 8,792 6,584 2.7 3.2 3.6 3.6 2.7

At contracting establishments

5,612 6,809 6,851 7,567 5,537 2.3 2.8 2.8 3.1 2.3

At closing establishments

1,088 886 2,000 1,225 1,047 0.4 0.4 0.8 0.5 0.4

Net employment change (2)

829 12 -1,343 -1,142 1,209 0.4 0.0 -0.5 -0.5 0.5

Wholesale trade

Gross job gains

5,566 4,565 5,062 4,612 4,861 4.9 4.0 4.4 4.0 4.3

At expanding establishments

4,679 3,669 4,095 3,693 3,854 4.1 3.2 3.6 3.2 3.4

At opening establishments

887 896 967 919 1,007 0.8 0.8 0.8 0.8 0.9

Gross job losses

4,515 4,542 4,791 4,348 4,382 4.0 4.0 4.2 3.8 3.8

At contracting establishments

3,465 3,661 3,545 3,346 3,340 3.1 3.2 3.1 2.9 2.9

At closing establishments

1,050 881 1,246 1,002 1,042 0.9 0.8 1.1 0.9 0.9

Net employment change (2)

1,051 23 271 264 479 0.9 0.0 0.2 0.2 0.5

Retail trade

Gross job gains

21,829 21,221 19,119 18,794 22,140 5.6 5.3 4.9 4.8 5.6

At expanding establishments

19,609 18,873 17,623 16,096 18,992 5.0 4.7 4.5 4.1 4.8

At opening establishments

2,220 2,348 1,496 2,698 3,148 0.6 0.6 0.4 0.7 0.8

Gross job losses

18,333 22,225 24,606 21,347 17,420 4.7 5.5 6.2 5.5 4.5

At contracting establishments

15,997 20,093 20,874 18,731 15,135 4.1 5.0 5.3 4.8 3.9

At closing establishments

2,336 2,132 3,732 2,616 2,285 0.6 0.5 0.9 0.7 0.6

Net employment change (2)

3,496 -1,004 -5,487 -2,553 4,720 0.9 -0.2 -1.3 -0.7 1.1

Transportation and warehousing

Gross job gains

6,868 6,975 6,388 12,285 6,885 4.7 4.8 4.4 8.2 4.5

At expanding establishments

5,688 5,649 5,648 11,033 5,993 3.9 3.9 3.9 7.4 3.9

At opening establishments

1,180 1,326 740 1,252 892 0.8 0.9 0.5 0.8 0.6

Gross job losses

8,628 7,362 6,943 6,838 8,659 5.9 5.1 4.7 4.6 5.7

At contracting establishments

7,610 6,517 5,739 5,414 7,641 5.2 4.5 3.9 3.6 5.0

At closing establishments

1,018 845 1,204 1,424 1,018 0.7 0.6 0.8 1.0 0.7

Net employment change (2)

-1,760 -387 -555 5,447 -1,774 -1.2 -0.3 -0.3 3.6 -1.2

Information

Gross job gains

3,401 3,103 2,753 3,774 2,601 4.9 4.4 3.9 5.4 3.7

At expanding establishments

2,590 2,556 2,115 2,322 1,972 3.7 3.6 3.0 3.3 2.8

At opening establishments

811 547 638 1,452 629 1.2 0.8 0.9 2.1 0.9

Gross job losses

3,355 3,776 3,452 3,917 3,059 4.8 5.4 5.0 5.7 4.4

At contracting establishments

2,742 2,647 2,427 3,371 2,512 3.9 3.8 3.5 4.9 3.6

At closing establishments

613 1,129 1,025 546 547 0.9 1.6 1.5 0.8 0.8

Net employment change (2)

46 -673 -699 -143 -458 0.1 -1.0 -1.1 -0.3 -0.7

Financial activities

Gross job gains

10,562 10,466 10,916 9,617 8,334 5.2 5.1 5.3 4.7 4.1

At expanding establishments

8,400 8,434 8,793 6,948 6,340 4.1 4.1 4.3 3.4 3.1

At opening establishments

2,162 2,032 2,123 2,669 1,994 1.1 1.0 1.0 1.3 1.0

Gross job losses

9,496 9,817 11,818 10,722 9,100 4.6 4.7 5.7 5.2 4.4

At contracting establishments

7,374 7,514 8,690 8,251 7,054 3.6 3.6 4.2 4.0 3.4

At closing establishments

2,122 2,303 3,128 2,471 2,046 1.0 1.1 1.5 1.2 1.0

Net employment change (2)

1,066 649 -902 -1,105 -766 0.6 0.4 -0.4 -0.5 -0.3

Professional and business services

Gross job gains

47,796 47,643 43,774 42,830 42,072 6.0 5.9 5.4 5.4 5.3

At expanding establishments

36,692 36,828 33,365 32,558 31,985 4.6 4.6 4.1 4.1 4.0

At opening establishments

11,104 10,815 10,409 10,272 10,087 1.4 1.3 1.3 1.3 1.3

Gross job losses

43,691 45,667 48,822 45,556 42,645 5.5 5.7 6.1 5.7 5.3

At contracting establishments

33,449 36,112 37,653 34,618 32,702 4.2 4.5 4.7 4.3 4.1

At closing establishments

10,242 9,555 11,169 10,938 9,943 1.3 1.2 1.4 1.4 1.2

Net employment change (2)

4,105 1,976 -5,048 -2,726 -573 0.5 0.2 -0.7 -0.3 0.0

Education and health services

Gross job gains

32,035 30,910 31,501 30,751 30,718 6.0 5.7 5.8 5.5 5.5

At expanding establishments

23,416 23,969 24,983 22,983 23,577 4.4 4.4 4.6 4.1 4.2

At opening establishments

8,619 6,941 6,518 7,768 7,141 1.6 1.3 1.2 1.4 1.3

Gross job losses

20,912 25,934 24,183 25,293 23,075 3.9 4.8 4.4 4.5 4.1

At contracting establishments

15,643 18,785 17,180 17,372 16,896 2.9 3.5 3.1 3.1 3.0

At closing establishments

5,269 7,149 7,003 7,921 6,179 1.0 1.3 1.3 1.4 1.1

Net employment change (2)

11,123 4,976 7,318 5,458 7,643 2.1 0.9 1.4 1.0 1.4

Leisure and hospitality

Gross job gains

37,995 35,293 35,668 37,530 32,815 9.4 8.7 8.8 9.1 7.8

At expanding establishments

29,237 27,672 28,351 29,530 24,005 7.2 6.8 7.0 7.2 5.7

At opening establishments

8,758 7,621 7,317 8,000 8,810 2.2 1.9 1.8 1.9 2.1

Gross job losses

29,572 36,825 37,793 29,874 32,634 7.3 9.0 9.3 7.2 7.8

At contracting establishments

24,033 30,775 30,412 24,114 26,835 5.9 7.5 7.5 5.8 6.4

At closing establishments

5,539 6,050 7,381 5,760 5,799 1.4 1.5 1.8 1.4 1.4

Net employment change (2)

8,423 -1,532 -2,125 7,656 181 2.1 -0.3 -0.5 1.9 0.0

Other services (3)

Gross job gains

8,866 9,742 9,015 8,982 8,696 7.2 7.8 7.1 7.1 6.8

At expanding establishments

6,390 7,028 6,938 6,858 6,296 5.2 5.6 5.5 5.4 4.9

At opening establishments

2,476 2,714 2,077 2,124 2,400 2.0 2.2 1.6 1.7 1.9

Gross job losses

8,206 7,859 8,615 7,910 8,104 6.7 6.3 6.8 6.2 6.3

At contracting establishments

6,176 5,753 6,473 5,831 6,024 5.0 4.6 5.1 4.6 4.7

At closing establishments

2,030 2,106 2,142 2,079 2,080 1.7 1.7 1.7 1.6 1.6

Net employment change (2)

660 1,883 400 1,072 592 0.5 1.5 0.3 0.9 0.5

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)
Mar.
2023 		June
2023 		Sept.
2023 		Dec.
2023 		Mar.
2024 		Mar.
2023 		June
2023 		Sept.
2023 		Dec.
2023 		Mar.
2024

United States(1)

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

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.