Mass layoffs reported in April: What does it mean for recovery?

It could be that we are now seeing the initial signs of a job market that is settling into a long trend of elevated unemployment and general weakness.

By , Guest blogger

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    Bureau of Labor Statistics Mass lay-off report
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The April release of the Bureau of Labor Statistics (BLS) Mass Layoff Report indicated a notable jump in large-scale layoffs with 1856 mass layoff events resulting in 200,870 initial unemployment claimants on a seasonally adjusted basis.

On a seasonally unadjusted basis, the mass layoff events totaled 1840 with 199,690 initial claimants.
It's important to note that this increase in layoffs is contributing to a flattening of the series that is consistent with a similar flattening currently shaping up for the weekly unemployment claims series.
It could be that we are now seeing the initial signs of a job market that is settling into a long trend of elevated unemployment and general weakness.
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.

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The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on paper-money.blogspot.com.

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