Tennessee's mass layoffs jump in May
Tennessee reported 24 mass layoffs in May and 2,418 initial claims for unemployment insurance, both up significantly from the prior year, according to numbers released Friday by the U.S. Department of Labor.
That compares to 13 mass layoffs and 705 initial claims in May 2007. The number of mass layoffs decreased from eight in May, affecting 570 workers.
A mass layoff is described as an unexpected layoff of at least 50 people at one company.
The figures are not seasonally adjusted.
There were 1,626 mass layoffs in the U.S. in May, seasonally adjusted, involving 171,387 workers. The number of mass layoff events in May increased by 318 from April, and the number of associated initial claims increased by 37,473. The national unemployment rate was 5.5 percent in May, seasonally adjusted, up from 4.5 percent a year earlier, 5 percent in May 2007.
Tennessee's unemployment rate rose one percentage point in May to 6.4 percent, up from 5.4 percent in April and 4.7 percent in May 2007, according to the Tennessee Department of Labor and Workforce Development.
Seasonal adjustment is the process of estimating and removing the statistical effect of regularly recurring seasonal events such as changes in the weather, holidays and the beginning and ending of the school year.
That compares to 13 mass layoffs and 705 initial claims in May 2007. The number of mass layoffs decreased from eight in May, affecting 570 workers.
A mass layoff is described as an unexpected layoff of at least 50 people at one company.
The figures are not seasonally adjusted.
There were 1,626 mass layoffs in the U.S. in May, seasonally adjusted, involving 171,387 workers. The number of mass layoff events in May increased by 318 from April, and the number of associated initial claims increased by 37,473. The national unemployment rate was 5.5 percent in May, seasonally adjusted, up from 4.5 percent a year earlier, 5 percent in May 2007.
Tennessee's unemployment rate rose one percentage point in May to 6.4 percent, up from 5.4 percent in April and 4.7 percent in May 2007, according to the Tennessee Department of Labor and Workforce Development.
Seasonal adjustment is the process of estimating and removing the statistical effect of regularly recurring seasonal events such as changes in the weather, holidays and the beginning and ending of the school year.
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