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Mass layoffs highest since September 2001

October 22 2008

The number of mass layoffs in September reached the highest level since September 2001, the U.S. Bureau of Labor Statistics reported. In addition, the number of initial unemployment claims associated with mass layoffs rose to the highest level since September 2005, when Hurricane Katrina hit.

There were 2,269 mass layoff events in September, up 73.6% year over year, according to seasonally adjusted numbers. Initial unemployment claims associated with the mass layoff events totaled 235,681, up 83.4% from a year ago. A mass layoff action involves at least 50 workers from a single workplace.

Temporary help services was the industry with the largest number of initial unemployment claims related to mass layoffs in September at 9,491.

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