Mass layoffs up in February

March 24, 2008

In February 2008, employers took 1,672 mass layoff actions, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month. Each action involved at least 50 persons from a single employer; the number of workers involved totaled 177,374, on a seasonally adjusted basis.

Mass layoff events, seasonally adjusted, February 2007-February 2008
[Chart data—TXT]

The number of mass layoff events in February 2008 increased by 234 from the prior month, while the number of associated initial claims increased by 33,263.

February layoff events and associated initial claimants were the highest since September 2005 (which reflected the impact of Hurricane Katrina) and were the highest for the month of February since 2003.

These data are from the Mass Layoff Statistics program. To learn more, see "Mass Layoffs in February 2008" (PDF) (TXT), news release USDL 08-0384.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Mass layoffs up in February on the Internet at http://www.bls.gov/opub/ted/2008/mar/wk4/art01.htm (visited October 23, 2014).

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