Mass Layoffs In October 2006 — 2006-11-24

In October 2006, employers took 1,171 mass layoff actions, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Each action involved at least 50 persons from a single establishment, and the number of workers involved totaled 113,724, on a seasonally adjusted basis. The number of layoff events increased by 39 from the prior month, while the number of associated initial claims de- creased by 3,049. During October 2006, 398 mass layoff events were re- ported in the manufacturing sector, seasonally adjusted, resulting in 54,852 initial claims. Both the number of events and the number of ini- tial claims in manufacturing were higher than a month earlier. (See table 1.) In October 2006, the national unemployment rate was 4.4 percent, sea- sonally adjusted, down from 4.6 percent the prior month and 4.9 percent in October 2005.