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Mass layoffs rise 58.9% over year

November 21 2008

The number of mass layoffs rose 58.9% to 2,140 in October compared with the same month last year, according to seasonally adjusted numbers released today by the U.S. Bureau of Labor Statistics. Initial claims for unemployment associated with mass layoffs rose 70.8% year over year to 232,468 from 136,124 in October 2007.

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

The industries with highest number of initial claims for unemployment because of mass layoffs were temporary help services, 16,381; automobile manufacturing, 10,508; and professional employer organizations, 7,242.

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