“You have to learn the rules of the game. And then you have to play better than anyone else.” - Albert Einstein

November Mass Layoffs

Posted on December 23rd, 2008 by Tim Eavenson | No Comments »
Filed under: ., HR Issues, Labor Law, The Financial Crisis |

On Friday, the Bureau of Labor Statistics released sobering mass layoff figures for November.

2,328 mass layoffs were reported last month*. To put that in perspective, a mass layoff is any single-employer layoff of more than 50 employees. According to the BLS, 224,079 workers* were affected by the actions.

Some other points of note:

Over the year, the number of mass layoff events increased by 999, and the number of associated initial claims increased by 84,408.

***

From the start of the recession in December 2007 through November 2008, the total number of mass layoff events[*] was 20,712, and the number of initial claims[*] was 2,108,743.

According to the figures, three industries have set records for their highest November layoff figures ever: Discount Department Stores (2,823), Motor Vehicle Metal Stamping (2,901) and Professional Employer Organizations (5,873).

That last number puts Professional Employer Organizations at #3 on the rankings of most November mass layoffs, behind Temporary Help Services and Highway, Street and Bridge Construction.

———————————————————-

*Figures Seasonally Adjusted

On the Web: BLS Mass Layoffs Summary