Excerpt: “From March 2024 to June 2024, gross job losses from closing and contracting private-sector establishments were 7.8 million, an increase of 639,000 jobs from the previous quarter, the U.S. Bureau of Labor Statistics reported today. Over this period, gross job gains from opening and expanding private-sector establishments were 7.6 million, a decrease of 17,000 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 decline of 163,000 jobs in the private sector during the second quarter of 2024. (See chart 1, and tables A and 1.)”
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