Mass Layoffs In May 2006 — 2006-06-22

In May 2006, employers took 1,074 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 establishment, and the number of workers involved totaled 109,858, on a seasonally adjusted basis. (See table 1.) The number of layoff events declined by 74, and the number of associated initial claims de- creased by 8,646 from April 2006. In the manufacturing sector, 293 mass layoff events were reported during May 2006, seasonally adjusted, resulting in 42,006 initial claims. Both figures were lower than a month earlier. (See table 1.) In May 2006, the national unemployment rate was 4.6 percent, seasonally adjusted, compared with 4.7 percent in April 2006 and 5.1 percent in May 2005.