Research >> Economics
January Mass Layoffs total 2,227 actions, 237,902 workers
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Employers took 2,227 mass layoff actions in January that resulted in the separation of 237,902 workers, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Each action involved at least 50 persons from a single employer. The number of mass layoff events in January decreased by 48 from the prior month, while the number of associated initial claims increased by 11,785. Over the year, the number of mass layoff events increased by 751, and the number of associated initial claims increased by 88,834. In January, 738 mass layoff events were reported in the manufacturing sector, seasonally adjusted, resulting in 102,577 initial claims. Over the month, mass layoff events in manufacturing decreased by 133, and initial claims decreased by 2,825.
During the 14 months from December 2007 through January 2009, the total number of mass layoff events (seasonally adjusted) was 25,712, and the number of initial claims (seasonally adjusted) was 2,632,336. (December 2007 was the start of a recession as designated by the National Bureau of Economic Research.)
The national unemployment rate was 7.6 percent in January 2009, seasonally adjusted, up from 7.2 percent the prior month and from 4.9 percent a year earlier. In January, total nonfarm payroll employment decreased by 598,000 over the month and by 3,500,000 from a year earlier.
Posted: February 25, 2009 Wednesday 10:00 AM