Friday, October 22, 2010

Massive Unemployment: Mass Layoffs September 2010

The September release of the Bureau of Labor Statistics (BLS) Mass Layoff Report indicated a continued decline in large-scale layoffs with 1486 mass layoff events resulting in 133,379 initial unemployment claimants on a seasonally adjusted basis.

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.