Mass Layoffs Jump In January After Four Straight Months Of DeclineJoe Weisenthal | Feb. 23, 2010, 11:37 AM | 757 | 6
PrintTags: Economy, Jobs, Employment, Unemployment, Layoffs
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Source: BLS
Mass layoff events -- defined as any time an employer whacks at least 50 employees at one time -- jumped again in January after having declined for four months in a row.
Employers took 1,761 mass layoff actions in January that resulted in the separation of 182,261 workers, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the U.S. Bureau of Labor Statistics reported today. Each action involved at least 50 persons from a single employer.
Both mass layoff events and initial claims increased from the prior month after four consecutive over-the-month decreases. In January, 486 mass layoff events were reported in the manufacturing sector, seasonally adjusted, resulting in 62,556 initial claims. Both figures increased over the month--the first increases since August 2009 for events and since September 2009 for ini-
tial claims. (See table 1.)
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Some of us told you what would happen this year. Its happening slowly but surely.
Remember the whole "Green Shoots" crappola?
