Mass Layoffs soared in August

August mass layoff events, at 1,772 seasonally adjusted, reached a program high for the month, while associated initial claims, at 173,955, were the highest for August since 2001. Year-to-date totals of layoff events (12,542) and related initial claims (1,274,765) in 2008 were the highest January-August totals since 2003.