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View All NewsMass layoffs rise 72%
The number of mass layoffs rose 72.4% in May compared to the same month last year, and the associated initial claims for unemployment insurance rose 73.3%, the U.S. Bureau of Labor Statistics reported today.
In May, there were 2,933 mass layoff actions compared with 1,701 in the same month a year ago. There were 312,880 initial claims for unemployment insurance associated with the actions in May compared with 180,558 a year ago.
The industry with the largest number of initial claims for unemployment benefits from mass layoffs was temporary help services which posted 16,658 claims.
A mass layoff action involves at least 50 workers from a single workplace.