Manufacturing accounts for 29% of August mass layoffs
In August, employers took 1,772 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 September 23. Each action involved at least 50 persons from a single employer; the number of workers involved totaled 173,955, on a seasonally adjusted basis. Layoff events reached a program high for the month of August (with data available back to 1995), and associated initial claimants reached its highest level for the month since 2001. The number of mass layoff events this August increased by 260 from the prior month, while the number of associated initial claims rose by 22,784. In August, 599 mass layoff events were reported in the manufacturing sector, seasonally adjusted, resulting in 72,244 initial claims. Over the month, mass layoff events in manufacturing increased by 156, and initial claims increased by 14,774.
From January through August 2008, the total number of mass layoff events (seasonally adjusted), at 12,542, and initial claims (seasonally adjusted), at 1,274,765, were the highest for the January-August period since 2003.
The national unemployment rate was 6.1 percent in August, seasonally adjusted, up from 5.7 percent in the prior month and from 4.7 percent a year earlier. In August, total non-farm payroll employment decreased by 84,000 over the month and by 283,000 from a year earlier.
Industry Distribution (Not Seasonally Adjusted)
The number of mass layoff events in August was 1,427 on a not-seasonally-adjusted basis; the number of associated initial claims was 139,999. Over the year, increases were recorded in both the number of layoff events (+464) and initial claims (+46,541). The largest over-the-year increases in initial claims occurred in transportation equipment manufacturing (+14,191) and in administrative and waste services (+4,524). The largest decrease in initial claims occurred in credit intermediation and related activities (-6,363).
The manufacturing sector accounted for 29 percent of all mass layoff events and 37 percent of initial claims filed in August; a year earlier, manufacturing made up 23 percent of events and 25 percent of initial claims. In August 2008, the number of manufacturing claimants was greatest in transportation equipment manufacturing (19,787), followed by machinery manufacturing (4,887). Administrative and waste services accounted for 15 percent of mass layoff events and 14 percent of associated initial claims, primarily from temporary help services.
Read the full report and view all of the data tables by clicking on the link below:
http://www.bls.gov/news.release/mmls.nr0.htm
From January through August 2008, the total number of mass layoff events (seasonally adjusted), at 12,542, and initial claims (seasonally adjusted), at 1,274,765, were the highest for the January-August period since 2003.
The national unemployment rate was 6.1 percent in August, seasonally adjusted, up from 5.7 percent in the prior month and from 4.7 percent a year earlier. In August, total non-farm payroll employment decreased by 84,000 over the month and by 283,000 from a year earlier.
Industry Distribution (Not Seasonally Adjusted)
The number of mass layoff events in August was 1,427 on a not-seasonally-adjusted basis; the number of associated initial claims was 139,999. Over the year, increases were recorded in both the number of layoff events (+464) and initial claims (+46,541). The largest over-the-year increases in initial claims occurred in transportation equipment manufacturing (+14,191) and in administrative and waste services (+4,524). The largest decrease in initial claims occurred in credit intermediation and related activities (-6,363).
The manufacturing sector accounted for 29 percent of all mass layoff events and 37 percent of initial claims filed in August; a year earlier, manufacturing made up 23 percent of events and 25 percent of initial claims. In August 2008, the number of manufacturing claimants was greatest in transportation equipment manufacturing (19,787), followed by machinery manufacturing (4,887). Administrative and waste services accounted for 15 percent of mass layoff events and 14 percent of associated initial claims, primarily from temporary help services.
Read the full report and view all of the data tables by clicking on the link below:
http://www.bls.gov/news.release/mmls.nr0.htm
Labels: manufacturing, mass layoffs
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