US Government Erases Thousands of Jobs in 2nd Quarter Labor Data

Published on January 30, 2024

The U.S. economy added only 332,000 private-sector jobs in the second quarter, much lower than the Bureau of Labor Statistics (BLS) initially reported in the April-to-June span. In the three months ending in June, gross job gains from opening and expanding private companies totaled 8.1 million, up 79,000 from the first quarter of 2023. Gross employment losses from closing and contracting establishments were 7.8 million, up 723,000 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 332,000 jobs in the private sector during the second quarter of 2023,” the BLS stated in the Business Employment Dynamics Summary (BEDS)....

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