Wednesday, December 22, 2010

Massive Unemployment: Mass Layoffs November 2010

The November release of the Bureau of Labor Statistics (BLS) Mass Layoff Report indicated a continued decline in large-scale layoffs with 1586 mass layoff events resulting in 152,816 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.