Daily News

View All News

Mass layoffs lowest since July 2008

January 28, 2010

The number of mass layoffs in December fell 29.9% on a year-over-year seasonally adjusted basis, and reached their lowest level since July 2008, the U.S. Bureau of Labor Statistics reported Wednesday. There were 1,726 mass layoff actions in December compared with 2,461 in December 2008.

Initial jobless claims related to mass layoffs fell 37.1% to 153,127 in December on a seasonally adjusted basis from 243,505 in December 2009. Initial claims also fell to their lowest level since July 2008.

The industry sector that posted the highest number of initial claims associated with mass layoffs on any industry in December, not on a seasonally adjusted basis, was food service contractors with 14,565 claims. For full-year 2009, temporary help services had the highest number of claims at 151,957.

A mass layoff action involves at least 50 workers from a single workplace.