Mass layoffs decrease

Mass layoffs (where an employer lays off 50 or more individuals in a month) continue to decline from 2009 highs.

By , Guest blogger

  • close
    The decline in mass layoffs suggests the economy is settling in to a period of low employment.
    View Caption

The July release of the Bureau of Labor Statistics (BLS) Mass Layoff Report indicated a slight decline in large-scale layoffs with 1609 mass layoff events resulting in 143,703 initial unemployment claimants on a seasonally adjusted basis.

It's important to note that this increase in mass layoffs appears to be contributing to a flattening of the series that is, more or less, consistent with a similar flattening trend 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.

Recommended: Could you pass a US citizenship test?

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.

Add/view comments on this post.

------------------------------

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 the link above.

Share this story:

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...