Extended Mass Layoffs In The Third Quarter Of 2007 — 2007-11-16

In the third quarter of 2007, there were 931 mass layoff events that resulted in the separation of 136,234 workers from their jobs for at least 31 days, according to preliminary figures released by the U.S. Department of Labor�s Bureau of Labor Statistics. While the total number of layoff events was essentially unchanged from the third quarter of 2006, the num- ber of separations was lower than in the July-September 2006 time period. (See table A.) The largest over-the-year decreases in separations were in administrative and support services and in transportation equipment manufacturing. Layoff activity in credit intermediation and related ac- tivities quadrupled over the year, mostly due to higher layoff activity in the real estate credit industry. Thirty-nine percent of employers reporting an extended layoff in the third quarter of 2007 indicated they anticipated some type of recall, the lowest percentage since the third quarter of 2003.