Virgin Islands Private Sector Lost 496 Jobs in First Quarter of 2025, BLS Reports

The U.S. Virgin Islands recorded a net loss of private-sector jobs during the first quarter of 2025, as business closures and workforce reductions continued to outpace new hiring, according to data released by the U.S. Bureau of Labor Statistics.

From December 2024 through March 2025, private-sector establishments in the territory shed a total of 1,735 jobs, while 1,239 jobs were added through business openings and expansions. The difference between those figures resulted in a net employment loss of 496 jobs for the quarter. Acting Regional Commissioner Michael G. Phinney noted that while losses continued to exceed gains, the net decline was smaller than in the previous quarter, when job losses surpassed gains by 1,296 positions.

Business Employment Dynamics data track changes in employment by measuring job gains and losses at private-sector establishments from the third month of one quarter to the third month of the next. The net change reflects the balance between jobs created through new or expanding businesses and jobs eliminated through contractions or closures.

During the first quarter of 2025, gross job losses accounted for 7.6 percent of private-sector employment in the U.S. Virgin Islands, compared with 5.4 percent nationally. These losses stemmed from both contracting businesses and establishments that closed entirely. Contracting establishments in the territory lost 780 jobs, a decrease of 250 jobs from the prior quarter. Closing establishments accounted for 955 lost jobs, which was 549 fewer than in the previous quarter.