There is massive loss, and there's no way you can avoid it.
First of all, processing a raw file into an RGB file will in itself throw away lots of data. You're encoding 14 stops of dynamic range into 8 or so, and part of the raw processing is deciding what data to keep and what to throw out.
Second, jpeg is the worst possible format if you want to keep high quality. Jpeg compression is always destructive, non-reversible and cumulative. Not only is it discarding original data, but it's also introducing compression artifacts. Don't be fooled by the setting sometimes called "maximum quality" jpeg, meaning least compressed - there is no such thing as maximum quality when it comes to jpeg. It will degrade the image at any setting.
The only purpose of jpeg is to reduce file size for final delivery, with the implication that the immediately visible quality loss is acceptable. The reason jpeg still survives is because that size reduction is incredibly effective, it can shrink a file down to 2-5% of native size.
Never work on a jpeg, never resave a jpeg if you can avoid it. It will degrade further with every new save.
EDIT cross post. I'm apparently more of a purist than Test Screen Name. But I stand by what I said.