Mass Layoffs In February 2007 — 2007-03-22

In February, employers took 1,280 mass layoff actions, seasonally ad- justed, 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; the number of workers involved totaled 143,977, on a seasonally adjusted basis. The number of mass layoff events in- creased by 43 from January, and the number of associated initial claims rose by 17,609. During February, 419 mass layoff events were reported in the manufacturing sector, seasonally adjusted, resulting in 64,072 initial claims. Compared with the prior month, mass layoff activity in manufac- turing increased by 30 events and by 12,931 initial claims. (See table 1.) The national unemployment rate was 4.5 percent in February, essentially unchanged from 4.6 percent the prior month and down from 4.8 percent a year earlier.