Friday, November 16, 2007
Tweet[IWS] BLS: EXTENDED MASS LAYOFFS IN THE THIRD QUARTER OF 2007 [16 November 2007]
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 2007 [16 November 2007]
http://www.bls.gov/news.release/mslo.nr0.htm
or
http://www.bls.gov/news.release/pdf/mslo.pdf
[full-text, 23 pages]
In the third quarter of 2007, there were 931 mass layoff events that
resulted in the separation of 136,234 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 Statistics. While the total number of layoff
events was essentially unchanged from the third quarter of 2006, the num-
ber of separations was lower than in the July-September 2006 time period.
(See table A.) The largest over-the-year decreases in separations were
in administrative and support services and in transportation equipment
manufacturing. Layoff activity in credit intermediation and related ac-
tivities quadrupled over the year, mostly due to higher layoff activity
in the real estate credit industry. Thirty-nine percent of employers
reporting an extended layoff in the third quarter of 2007 indicated they
anticipated some type of recall, the lowest percentage since the third
quarter of 2003.
Among the seven categories of economic reasons for layoff, business de-
mand accounted for the highest share of events (44 percent) and number of
separations (45,859) in July-September 2007. Layoffs due to seasonal fac-
tors had the next highest proportion of events (22 percent). (See table B.)
Permanent closure of worksites occurred in 16 percent of all extended mass
layoff events and affected 29,846 workers, down from 38,151 separations re-
ported for the third quarter 2006. Sixty-one extended mass layoffs involved
the movement of work within the same company or to a different company, ei-
ther domestically or outside the U.S. (See table C.) These events accounted
for 8 percent of the nonseasonal layoff events and 11 percent of the nonsea-
sonal separations.
The national unemployment rate averaged 4.7 percent, not seasonally
adjusted, in the third quarter of 2007, unchanged from a year earlier.
Private nonfarm payroll employment, not seasonally adjusted, increased
by 1.4 percent, or about 1.6 million, over the year.
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 2007 [16 November 2007]
http://www.bls.gov/news.release/mslo.nr0.htm
or
http://www.bls.gov/news.release/pdf/mslo.pdf
[full-text, 23 pages]
In the third quarter of 2007, there were 931 mass layoff events that
resulted in the separation of 136,234 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 Statistics. While the total number of layoff
events was essentially unchanged from the third quarter of 2006, the num-
ber of separations was lower than in the July-September 2006 time period.
(See table A.) The largest over-the-year decreases in separations were
in administrative and support services and in transportation equipment
manufacturing. Layoff activity in credit intermediation and related ac-
tivities quadrupled over the year, mostly due to higher layoff activity
in the real estate credit industry. Thirty-nine percent of employers
reporting an extended layoff in the third quarter of 2007 indicated they
anticipated some type of recall, the lowest percentage since the third
quarter of 2003.
Among the seven categories of economic reasons for layoff, business de-
mand accounted for the highest share of events (44 percent) and number of
separations (45,859) in July-September 2007. Layoffs due to seasonal fac-
tors had the next highest proportion of events (22 percent). (See table B.)
Permanent closure of worksites occurred in 16 percent of all extended mass
layoff events and affected 29,846 workers, down from 38,151 separations re-
ported for the third quarter 2006. Sixty-one extended mass layoffs involved
the movement of work within the same company or to a different company, ei-
ther domestically or outside the U.S. (See table C.) These events accounted
for 8 percent of the nonseasonal layoff events and 11 percent of the nonsea-
sonal separations.
The national unemployment rate averaged 4.7 percent, not seasonally
adjusted, in the third quarter of 2007, unchanged from a year earlier.
Private nonfarm payroll employment, not seasonally adjusted, increased
by 1.4 percent, or about 1.6 million, over the year.
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 : 10:21 AM
