Published
36 minutes ago
on
October 13, 2025
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By
Jenna Ross
Graphics & Design
- Lebon Siu
- Jennifer West
The following content is sponsored by Terzo
Industries Hiring and Firing the Most Employees
Key Takeaways
- The Education & Health Services industry has been hiring the most employees over the last year.
- In contrast, the federal government has seen the biggest reduction in the number of employees.
Hiring trends can serve as an early signal of where the U.S. economy is heading next. By looking at which industries are adding—or cutting—the most jobs, we get a clearer picture of where business confidence is rising, and where it’s slipping.
This graphic was created in partnership with Terzo for our Markets in a Minute series, which features quick economic insights for executives. It zooms out to see the longer-term change in employees across industries from August 2024 to August 2025.
We’re Hiring: Industries Adding the Most Employees
The industry hiring by far the most employees was education and health services. Both areas require significant human interaction, meaning they could be safest from AI replacement. On top of this, healthcare continues to see a boom from the aging population.
Within the industry, social assistance saw the most growth which includes roles like child care workers, home care aides, and social workers.
| Industry | Change in Number of Employees, Aug 2024–Aug 2025 |
|---|---|
| Education and Health Services | +862,000 |
| Leisure and Hospitality | +232,000 |
| Local Government | +184,000 |
| Transportation and Warehousing | +84,700 |
| Financial Activities | +80,000 |
Source: U.S. Bureau of Labor Statistics via Federal Reserve.
Leisure and hospitality saw the second-strongest hiring push, driving primarily by employment increases within food services and drinking places.
Industries With the Biggest Drops in Employees
At the other end of the scale, federal government jobs have declined the most. In an effort to increase efficiency and reduce waste, the government has undertaken layoffs, buyouts, and terminations.
| Industry | Change in Number of Employees, Aug 2024–Aug 2025 |
|---|---|
| Federal Government | -86,000 |
| Manufacturing | -78,000 |
| Professional and Business Services | -55,000 |
| Mining and Logging | -13,000 |
| Information | -3,000 |
Source: U.S. Bureau of Labor Statistics via Federal Reserve.
Manufacturing jobs saw the second-largest decline, continuing a trend seen over the last several decades. Investments in automation have led to less hiring in manufacturing as companies achieve more productivity per worker.
More recently, economists believe uncertainty related to tariffs has discouraged companies from increasing their workforce as costs rise.
Recent Job Shifts
In the absence of the September jobs report from the Bureau of Labor Statistics (BLS), people are turning to private reports for an estimate on the labor market. Many estimates point to cooling conditions.
Carlyle, a global investment firm, estimates that employers added 17,000 jobs in September. As a point of comparison, the August report from the BLS showed gains of 22,000.
Stay in tune with your company’s spending, revenue, and risk with Terzo’s AI-powered financial platform.
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