Mass Layoffs In December 2007 And Annual Totals For 2007 — 2008-01-24

In December, employers took 1,433 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 141,750 on a seasonally adjusted basis. December layoff events were the highest since September 2005 (which reflected the impact of Hurricane Katrina) and were the highest for the month of December since 2002. The number of mass layoff events in December 2007 increased by 104 from the prior month, while the num- ber of associated initial claims increased by 2,079. In December, 462 mass layoff events were reported in the manufacturing sector, seasonally adjusted, resulting in 58,108 initial claims. Over the month, mass layoff activity in manufacturing increased by 48 events, and initial claims increased by 1,143.