Today's Coming Crisis Movie

Saturday, September 24, 2011

AUGUST: 1,587 mass layoff actions affected 165,547 workers

Employers took 1,587 mass layoff actions in August involving 165,547 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 mass layoff involved at least 50 workers from a single employer. The number of mass layoff events in August increased by 8 from July, and the number of associated initial claims increased by 20,547. In August, 391 mass layoff events were reported in the manufacturing sector, seasonally adjusted, resulting in 48,997 initial claims.

The national unemployment rate was 9.1 percent in August, unchanged from the prior month but down from 9.6 percent a year earlier. In August, total nonfarm payroll employment was unchanged from the prior month at 131.1 million and increased over the year by 1.3 million.

The number of mass layoff events in August was 961, not seasonally adjusted, resulting in 99,213 initial claims for unemployment insurance. Mass layoff events decreased by 15 from August 2010, while associated initial claims increased by 6,778. (See table 2.) Nine of the 19 major industry sectors in the private economy reported over-the-year increases in initial claims, with the largest increases occurring in information and manufacturing. The six-digit industry with the largest number of initial claims in August 2011 was wired telecommunications carriers. more