Extended Mass Layoffs In The First Quarter Of 2002 — 2002-05-16

In the first quarter of 2002, employers reported 1,669 mass layoff actions that resulted in the separation of 301,181 workers from their jobs for more than 30 days, according to preliminary figures released by the U.S. Depart- ment of Labor's Bureau of Labor Statistics. Reversing the trend of the previous five quarters, both the total number of layoff events and the number of separations were lower than in the same quarter a year earlier. (See table A.) Lack of demand for employers' products and services (slack work) was the major reason cited for layoffs in the first quarter, accounting for 25 percent of all events and 58,931 separations. The number of seasonal events was at the lowest first-quarter level since the program began in 1995 and accounted for 21 percent of all events.