The US Bureau of Labor Statistics (BLS) reported that the private sector experienced a net employment gain of 1.3 million jobs in the third quarter of 2022. According to the quarterly Business Employment Dynamics data, gross job gains from opening and expanding private-sector establishments reached 8.8 million, a 561,000-job increase from the previous quarter. Meanwhile, gross job losses from closing and contracting establishments decreased by 1 million jobs to 7.5 million.
In Q3 2022, gross job gains represented 6.8% of private-sector employment, with expanding establishments adding 7.1 million jobs, a 539,000-job increase from the previous quarter. Opening establishments contributed 1.7 million jobs, a 22,000-job increase. Gross job losses accounted for 5.8% of private-sector employment, with contracting establishments losing 6 million jobs and closing establishments losing 1.6 million jobs.
During the same quarter, establishment births decreased by 13,000 to a total of 346,000 establishments, accounting for 1 million jobs. The number of establishment deaths is available only up to the fourth quarter of 2021, during which 778,000 jobs were lost at 254,000 establishments.
Firms with 1-49 employees experienced a net employment increase of 34,000, while firms with 50-249 employees gained 249,000 jobs. Firms with 250 or more employees saw a net employment increase of 1.1 million. All 13 industry sectors experienced net job gains in Q3 2022, with service-providing industries adding 1.2 million jobs and goods-producing industries increasing by 129,000 jobs.