Mass Layoffs (Monthly) News Release — 2012-03-23

Employers took 1,293 mass layoff actions in February involving 119,463 workers, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the U.S. Bureau of Labor Statistics reported today. Each mass layoff involved at least 50 workers from a single employer. Mass layoff events in February decreased by 141 from January, and the number of associated initial claims decreased by 10,457. In February, 282 mass layoff events were reported in the manufacturing sector, seasonally adjusted, resulting in 27,388 initial claims. Both manufacturing figures were lower when compared to January. (See table 1.) The national unemployment rate was 8.3 percent in February, the same as the prior month and down from 9.0 percent a year earlier. Total nonfarm payroll employment increased by 227,000 over the month and by 2,021,000 over the year. The number of mass layoff events in February was 895, not seasonally adjusted, resulting in 73,974 initial claims for unemployment insurance.