Mass layoffs, October 2008
November 24, 2008
In October, employers took 2,140 mass layoff actions, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month. The number of mass layoff events decreased by 129 from the prior month.
Layoff events reached their highest October level since 2001, a month that experienced continued layoff activity from the September 11 attacks.
In October, 635 mass layoff events were reported in the manufacturing sector, seasonally adjusted; over the month, mass layoff events in manufacturing increased by 32, the third consecutive over-the-month increase.
Each action involved at least 50 persons from a single employer; the number of workers involved totaled 232,468, on a seasonally adjusted basis.
From January through October 2008, the total number of events, at 16,951, and initial claims, at 1,742,914, were the highest for the January-October period since 2002.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Mass layoffs, October 2008 on the Internet at http://www.bls.gov/opub/ted/2008/nov/wk4/art01.htm (visited October 05, 2015).
Recent editions of Spotlight on Statistics
New estimates of personal taxes in Consumer Expenditure Survey
In 2013, the Consumer Expenditure Survey improved its personal tax data.
Trends in long-term unemployment
Long-term unemployment reached historically high levels following the recession of 2007–2009.
Housing: before, during, and after the Great Recession
looks at consumer expenditures on household items, employment in residential construction, prices for household items, and injuries in occupations involved in building and maintaining our homes.