U.S. mass layoffs decline
Employers took 1,570 mass layoff actions in February that resulted in the separation of 155,718 workers, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the U.S. Bureau of Labor Statistics reports.
The number of mass layoff events in February fell by 191 from the prior month, and the number of associated initial claims decreased by 26,543.
Both events and initial claims have decreased in five out of the last six months. In February, 376 mass layoff events were reported in the manufacturing sector, seasonally adjusted, resulting in 43,100 initial claims. Both figures declined over the month to their lowest levels since Aug. 2007.
During the 27 months from Dec. 2007 through Feb. 2010, the total number of mass layoff events (seasonally adjusted) was 55,309, and the associated number of initial claims was 5,580,819.
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