A new Aug. 29 Bureau of Labor Statistics report revealed that 2.6 million U.S. workers who had held their jobs for at least three years were displaced from employment from January 2021 to December 2023. The findings were down 1 million workers from the previous report covering January 2019 to December 2021.
The biennial report defines displaced workers as people who are 20 years of age and older who reported leaving or losing their job due to a company or plant closing or moving, insufficient work for the employee, or their role or shift was cut.
Healthcare and social assistance employees saw a 10% job loss from January 2021 to December 2023, with 17% job displacement for manufacturing jobs, 15% in professional and business services and 10% in retail trade during that time.
Of the affected employees, 65.7% had found reemployment by January 2024 , the report said.