The Bureau of Labor Statistics released the Mass Layoffs report for October and things are trending in the wrong direction. Keep an eye on these stats as we move past the holiday season and companies tighten up their purse strings. You can read the entire report here but as always, GigSpire gives you the highlights below. Stay educated!
- Employers took 1,360 mass layoff actions in October involving 131,173 workers as measured by new filings for unemployment insurance benefits during the month
- Each mass layoff involved at least 50 workers from a single employer.
- Mass layoff events in October increased by 44 from September
- The number of associated initial claims increased by 8,711.
- In October, 344 mass layoff events were reported in the manufacturing sector resulting in 42,946 initial claims.