Manufacturing accounted for 24% of mass layoffs in May
In May, employers took 1,190 mass layoff actions, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the U.S. Department of Labor’s Bureau of Labor Statistics reported on June 22. Each action involved at least 50 persons from a single establishment; the number of workers involved totaled 119,089, on a seasonally adjusted basis. The number of mass layoff events decreased by 28 from the prior month, and the number of associated initial claims fell by 5,644. During May, 363 mass layoff events were reported in the manufacturing sector, seasonally adjusted, resulting in 48,849 initial claims.
Compared with the prior month, mass layoff activity in manufacturing decreased by 20 events, while initial claims increased by 5,076.
From January through May 2007, the total number of events (seasonally adjusted), at 6,201, and initial claims (seasonally adjusted), at 644,854, were higher than in January-May 2006 (5,555 and 577,696, respectively).
The national unemployment rate was 4.5 percent in May, unchanged from the prior month and down slightly from 4.6 percent a year earlier. Total non-farm payroll employment increased by 157,000 over the month and by 1.9 million over the year.
Industry Distribution (Not Seasonally Adjusted)The 10 industries reporting the highest numbers of mass layoff initial claims, not seasonally adjusted, accounted for 32 percent of the total initial claims in May. The industry with the highest number of initial claims was food service contractors with 5,236, followed by temporary help services with 5,080, and motion picture and video production with 3,470. Together, these three industries accounted for 16 percent of all initial claims due to mass layoffs during the month.
The manufacturing sector accounted for 24 percent of all mass layoff events and 31 percent of all related initial claims filed in May; a year earlier, manufacturing made up 22 percent of events and 28 percent of initial claims. In May 2007, the number of manufacturing claimants was highest in transportation equipment manufacturing (10,321, largely light truck and utility vehicle manufacturing and heavy duty truck manufacturing), followed by food manufacturing (2,617) and wood product manufacturing (1,823).
Administrative and waste services accounted for 13 percent of mass layoff events and 11 percent of initial claims in May, primarily from temporary help services. Accommodation and food services comprised 9 percent of events and 10 percent of initial claims filed over the month, with the majority of layoffs in food service contracting. Nine percent of all mass layoff events and related initial claims filed were from retail trade, mainly from general merchandise stores. Construction made up 10 percent of events and 7 percent of initial claims, mostly from the specialty trade contractors industry.
Read the full report and view all of the tables by clicking on the link below:
ftp://ftp.bls.gov/pub/news.release/mmls.txt
Compared with the prior month, mass layoff activity in manufacturing decreased by 20 events, while initial claims increased by 5,076.
From January through May 2007, the total number of events (seasonally adjusted), at 6,201, and initial claims (seasonally adjusted), at 644,854, were higher than in January-May 2006 (5,555 and 577,696, respectively).
The national unemployment rate was 4.5 percent in May, unchanged from the prior month and down slightly from 4.6 percent a year earlier. Total non-farm payroll employment increased by 157,000 over the month and by 1.9 million over the year.
Industry Distribution (Not Seasonally Adjusted)The 10 industries reporting the highest numbers of mass layoff initial claims, not seasonally adjusted, accounted for 32 percent of the total initial claims in May. The industry with the highest number of initial claims was food service contractors with 5,236, followed by temporary help services with 5,080, and motion picture and video production with 3,470. Together, these three industries accounted for 16 percent of all initial claims due to mass layoffs during the month.
The manufacturing sector accounted for 24 percent of all mass layoff events and 31 percent of all related initial claims filed in May; a year earlier, manufacturing made up 22 percent of events and 28 percent of initial claims. In May 2007, the number of manufacturing claimants was highest in transportation equipment manufacturing (10,321, largely light truck and utility vehicle manufacturing and heavy duty truck manufacturing), followed by food manufacturing (2,617) and wood product manufacturing (1,823).
Administrative and waste services accounted for 13 percent of mass layoff events and 11 percent of initial claims in May, primarily from temporary help services. Accommodation and food services comprised 9 percent of events and 10 percent of initial claims filed over the month, with the majority of layoffs in food service contracting. Nine percent of all mass layoff events and related initial claims filed were from retail trade, mainly from general merchandise stores. Construction made up 10 percent of events and 7 percent of initial claims, mostly from the specialty trade contractors industry.
Read the full report and view all of the tables by clicking on the link below:
ftp://ftp.bls.gov/pub/news.release/mmls.txt
Labels: layoffs, manufacturing
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