Home » NEWS » Mass layoffs fall at record pace

Mass layoffs fall at record pace

Employers initiated 1,564 mass layoff events in the first quarter of 2010 that resulted in the separation of 221,150 workers from their jobs for at least 31 days, according to preliminary figures released by the U.S. Bureau of Labor Statistics.

Both events and separations decreased by record amounts from the same period a year earlier, when layoffs and associated separated workers reached program highs.

Seventeen of 18 major industry sectors in the private non-farm economy registered sharp declines over the year in the number of extended mass layoff events, with 12 industries registering record declines in the number of events.

Forty-two percent of employers expected to recall at least some laid-off workers, up from 25 percent a year earlier.

First quarter 2010 layoff data are preliminary and are subject to revision.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Wally Northway

Leave a Reply

Your email address will not be published. Required fields are marked *

*