Wednesday, May 12, 2010

Massive Unemployment: Mass Layoffs March 2010

The latest release of the Bureau of Labor Statistics (BLS) Mass Layoff Report indicated a continued trend down of large-scale layoffs with 1628 mass layoff events resulting in 150,864 initial unemployment claimants on a seasonally adjusted basis.

On a seasonally unadjusted basis, the mass layoff events totaled 1197 with 111,727 initial claimants.

The BLS considers a mass layoff event to be a condition where there are at least fifty initial claims for unemployment insurance originating from a single employer over a period of five consecutive weeks.