Mass Layoffs
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Steve Verdon | Thursday, February 9, 2006 |
Today the Bureau of Labor Statistics released its report on mass layoffs for the fourth quarter of 2005.
In the fourth quarter there were:
- 1,299 mass layoffs,
- these layoffs resulted in 217,803 workers losing jobs.
- Both numbers are sharply lower than the fourth quarter of 2004.
- The seperations are the lowest fourth quarter recorded and the fourth lowest overall since 1995 when recording of this data started.
Seasonal work was a major factor in the mass layoffs accounting for about 56% of the job seperations. Internal restructurings accounted for 12%, and permanent closures accounted for 9% of job seperations.
About the Author: Steve has a B.A. in Economics from the University of California, Los Angeles and attended graduate school at The George Washington University, leaving school shortly before staring work on his dissertation when his first child was born. He works in the energy industry and prior to that worked at the Bureau of Labor Statistics in the Division of Price Index and Number Research.
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Comments
But the economy is still terrible, right?
Posted by M. Murcek | February 9, 2006 | 01:35 pm | Permalink
I've never said it was terrible. So what is your point?
Posted by Steve Verdon | February 9, 2006 | 01:51 pm | Permalink
Sorry, I was snarking. I wasn't saying you ever said the economy was bad.
Posted by M. Murcek | February 9, 2006 | 03:42 pm | Permalink
Ahhh...my mistake then.
Posted by Steve Verdon | February 9, 2006 | 05:04 pm | Permalink
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