From December 2022 to March 2023, gross job gains from opening and expanding private-sector establishments in Virginia were 202,603, while gross job losses from closing and contracting private-sector establishments were 172,074. The difference between the number of gross job gains and the number of gross job losses yielded a net employment gain of 30,529 jobs in the private sector during the first quarter of 2023.
Gross job gains
In the first quarter of 2023, gross job gains represented 6.2 percent of private-sector employment both in Virginia and nationally. 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 157,153 in the first quarter of 2023, a decrease of 4,734 jobs compared to the previous quarter. Opening establishments accounted for 45,450 jobs gained in the first quarter of 2023, an increase of 1,411 jobs from the previous quarter.
Gross job losses
In the first quarter of 2023, 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. 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 135,885 jobs in the first quarter of 2023, a decrease of 5,478 jobs from the prior quarter. Closing establishments lost 36,189 jobs, a decrease of 12,604 jobs from the previous quarter.
