Throughout the Bible God used the word “elect” for different people. Elect is used in reference to a single man, and it is also used in regard to Israel in the Old Testament. In the New Testament it is used in regard to two women, angels, Rufus, but mostly to those justified by faith in Jesus Christ. The word “elect” is also the same as “chosen” in the New Testament appearing 24 times in 23 verses and most references are made concerning the church, those justified by faith in Jesus, being the chosen. So to say the elect only refers to Israel would overlook scriptures that clearly refer to the church as the elect as well.
Also we know that those who are in the rapture are saved according to their faith in Jesus Christ. Majority of the Jews deny that Jesus was the Messiah and for those who accept Jesus and obey the gospel they would then become part of the body of Christ. We learn in Zechariah that Israel, overall, is saved after the Lord returns. So the elect that is gathered in Matthew 24 are not the physical people of God, the Jews, but rather the body of Christ, commonly referred to as the church.