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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Knighty Tin who wrote (30424)5/19/2005 1:30:31 PM
From: mishedlo  Read Replies (2) of 116555
 
EXTENDED MASS LAYOFFS IN THE FIRST QUARTER OF 2005
In the first quarter of 2005, 989 mass layoff actions were taken by employers that resulted in the
separation of 156,252 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. Both the total number of layoff events and
the number of separations were sharply lower than in January-March 2004, with events and separations at
their lowest levels for any first quarter since the program began in April 1995. (See table A.) The declines
over the year were most notable in food and beverage stores, general merchandise stores, and administrative
and support services. Extended mass layoffs that involve the movement of work within the same company
or to a different company, domestically or outside the U.S., occurred in about 10 percent of the nonseasonal
layoff events and accounted for about 13 percent of the worker separations in nonseasonal events. (See
table B.) Forty-three percent of the employers anticipating a recall expected to extend the offer to all laidoff
workers, the highest proportion for a first quarter since 1999.

[Note this is the lowest total for quite some time - Mish]
More here:
bls.gov
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