Research >> Economics
May Mass Layoffs total 1,412 actions, 135,789 workers
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Employers took 1,412 mass layoff actions in May that resulted in the separation of 135,789 workers, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the U.S. Bureau of Labor Statistics reported today. Each action involved at least 50 persons from a single employer. The number of mass layoff events in May decreased by 444 from the prior month, and the number of associated initial claims decreased by 65,081. In May, 266 mass layoff events were reported in the manufacturing sector, seasonally adjusted, resulting in 22,577 initial claims. Both figures declined over the month to their lowest levels in program history.
During the 30 months from December 2007 through May 2010, the total number of mass layoff events (seasonally adjusted) was 60,205, and the associated number of initial claims was 6,068,342. (December 2007 was the start of a recession as designated by the National Bureau of Economic Research.)
The national unemployment rate was 9.7 percent in May 2010, seasonally adjusted, down from 9.9 percent the prior month and up from 9.4 percent a year earlier. In May, total nonfarm payroll employment grew by 431,000 over the month, reflecting the hiring of 411,000 temporary employees to work on Census 2010, but down by 585,000 from a year earlier.
Posted: June 24, 2010 Thursday 10:00 AM