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Mass layoffs spike in May

June 23 2008

The number of mass layoff actions rose sharply in May, according to seasonally adjusted numbers released by the U.S. Bureau of Labor Statistics. In May, employers took 1,626 mass layoff actions, up 318 from the prior month. The number of workers involved totaled 171,387, seasonally adjusted, and the number of initial unemployment claims associated with mass layoffs were the highest since 2003. A mass layoff action involves at least 50 workers from a single workplace.

The industry with the most initial unemployment claims from mass layoff actions was temporary help services at 16,992.

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