Mass Layoffs (Monthly) News Release — 2008-06-20

In May, employers took 1,626 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 employer; the number of workers involved totaled 171,387, on a seasonally adjusted basis. Layoff events and associated initial claimants were the highest for the month of May since 2003. The number of mass layoff events in May 2008 increased sharply by 318 from the prior month, while the number of associated initial claims rose by 37,473. In May, 528 mass layoff events were reported in the manufacturing sector, seasonally adjusted, resulting in 72,058 initial claims. Over the month, mass layoff events in manufacturing increased by 45 and initial claims increased by 11,506.