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Employers Took 1,643 Mass Layoff Actions In June (Highest since August 2003)

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Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-23-08 10:40 AM
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Employers Took 1,643 Mass Layoff Actions In June (Highest since August 2003)
Source: RTTNews

(RTTNews) - Wednesday morning, the Department of Labor released its report on mass layoffs in the month of June, showing that layoff events were the highest for the month of June since 2003.

The report showed that employers took 1,643 mass layoff actions in June, as measured by new filings for unemployment insurance benefits during the month.

The Labor Department said that each action involved at least 50 persons from a single employer, with the layoffs involving a total of 165,697 workers

While the number of mass layoff events in June increased by 17 from the previous month, the number of associated initial claims was 5,690 lower.

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