Wednesday, November 15, 2006
Tweet[IWS] BLS: EXTENDED MASS LAYOFFS IN THE THIRD QUARTER OF 2006 [15 November 2006]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
EXTENDED MASS LAYOFFS IN THE THIRD QUARTER OF 2006 [15 November 2006]
http://www.bls.gov/news.release/mslo.nr0.htm
or
http://www.bls.gov/news.release/pdf/mslo.pdf
[full-text, 21 pages]
In the third quarter of 2006, employers took 836 mass layoff actions
in the private nonfarm sector that resulted in the separation of 134,816
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 Sta-
tistics. (See table A.) Layoff activity in the third quarter of 2006
was sharply lower than in the same period a year ago, when the effects of
Hurricane Katrina were related to 358 of the 1,136 layoff events and to
57,551 of the 201,878 separated workers. In the third quarter of 2006,
extended mass layoffs that involve the movement of work within the same
company or to a different company, either domestically or outside the U.S.,
occurred in 8 percent of the nonseasonal layoff events and 11 percent of
worker separations. (See table B.)
The completion of contracts accounted for 29 percent of all layoff events
and resulted in 28,005 separations during the period. Layoffs due to inter-
nal company restructuring (bankruptcy, business ownership change, financial
difficulty, and reorganization) accounted for 21 percent of layoff events
and 30 percent of separations, higher proportions than those of 2005 (which
included the impact of Hurricane Katrina). However, the current quarter's
numbers of events and separations were about the same as those reported in
the third quarter of 2005. Permanent closure of worksites occurred in 16
percent of all events and affected 36,329 workers, both figures were higher
than a year ago.
In the third quarter of 2006, the national unemployment rate was 4.7 per-
cent, not seasonally adjusted; a year earlier it was 5.0 percent. Private
nonfarm payroll employment, not seasonally adjusted, increased by 1.6 mil-
lion, or 1.5 percent, from July-September 2005 to July-September 2006.
AND MUCH MORE...including TABLES....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
EXTENDED MASS LAYOFFS IN THE THIRD QUARTER OF 2006 [15 November 2006]
http://www.bls.gov/news.release/mslo.nr0.htm
or
http://www.bls.gov/news.release/pdf/mslo.pdf
[full-text, 21 pages]
In the third quarter of 2006, employers took 836 mass layoff actions
in the private nonfarm sector that resulted in the separation of 134,816
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 Sta-
tistics. (See table A.) Layoff activity in the third quarter of 2006
was sharply lower than in the same period a year ago, when the effects of
Hurricane Katrina were related to 358 of the 1,136 layoff events and to
57,551 of the 201,878 separated workers. In the third quarter of 2006,
extended mass layoffs that involve the movement of work within the same
company or to a different company, either domestically or outside the U.S.,
occurred in 8 percent of the nonseasonal layoff events and 11 percent of
worker separations. (See table B.)
The completion of contracts accounted for 29 percent of all layoff events
and resulted in 28,005 separations during the period. Layoffs due to inter-
nal company restructuring (bankruptcy, business ownership change, financial
difficulty, and reorganization) accounted for 21 percent of layoff events
and 30 percent of separations, higher proportions than those of 2005 (which
included the impact of Hurricane Katrina). However, the current quarter's
numbers of events and separations were about the same as those reported in
the third quarter of 2005. Permanent closure of worksites occurred in 16
percent of all events and affected 36,329 workers, both figures were higher
than a year ago.
In the third quarter of 2006, the national unemployment rate was 4.7 per-
cent, not seasonally adjusted; a year earlier it was 5.0 percent. Private
nonfarm payroll employment, not seasonally adjusted, increased by 1.6 mil-
lion, or 1.5 percent, from July-September 2005 to July-September 2006.
AND MUCH MORE...including TABLES....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 10:56 AM
