Dec 23, 2008

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November Mass Layoffs

On Friday, the Bureau of Labor Statistics released sobering mass layoff figures for November. 

2,328 mass layoffs were reported last month*.  To put that in perspective, a mass layoff is any single-employer layoff of more than 50 employees.  According to the BLS, 224,079 workers* were affected by the actions.

Some other points of note:

Over the year, the number of mass layoff events increased by 999, and the number of associated initial claims increased by 84,408.

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From the start of the recession in December 2007 through November 2008, the total number of mass layoff events[*] was 20,712, and the number of initial claims[*] was 2,108,743.

According to the figures, three industries have set records for their highest November layoff figures ever: Discount Department Stores (2,823), Motor Vehicle Metal Stamping (2,901) and Professional Employer Organizations (5,873). 

That last number puts Professional Employer Organizations at #3 on the rankings of most November mass layoffs, behind Temporary Help Services and Highway, Street and Bridge Construction.

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*Figures Seasonally Adjusted

On the Web: BLS Mass Layoffs Summary