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Mass layoffs rise

September 23 2008

Mass layoffs increased in August from July, according to seasonally adjusted numbers released today by the U.S. Bureau of Labor Statistics. There were 1,772 mass layoff actions in August, up 260 from the previous month. In addition, the number of initial unemployment claims associated with the mass layoffs rose to 173,955 in August, up 15.1% from July. A mass layoff action involves at least 50 workers from a single workplace.

Year over year, mass layoffs rose 44.3% in August, and the associated initial claims for unemployment rose 42.7%.

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