Mass layoffs decline in August

The latest Bureau of Labor Statistics data showed a fall in mass layoffs in August. A mass layoff is when at least fifty initial claims for unemployment insurance originate from a single employer over a period of five consecutive weeks.

By , Guest blogger

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    This chart shows mass layoff events across all industries since 2007. There were 1,267 mass layoff events in August 2012.
    View Caption

The latest release of the Bureau of Labor Statistics (BLS) Mass Layoff Report indicated a decline in large-scale layoffs with 1267 mass layoff events for August resulting in 127,454 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.

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