Mass Layoffs

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.

FILED UNDER: Economics and Business
Steve Verdon
About Steve Verdon
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. He joined the staff at OTB in November 2004.

Comments

  1. M. Murcek says:

    But the economy is still terrible, right?

  2. Steve Verdon says:

    I’ve never said it was terrible. So what is your point?

  3. M. Murcek says:

    Sorry, I was snarking. I wasn’t saying you ever said the economy was bad.

  4. Steve Verdon says:

    Ahhh…my mistake then.