In March, there were 2,933 mass layoffs across the country, resulting in close to 300,000 new unemployment insurance (UI) claims. A mass layoff, as defined by the Bureau of Labor Statistics, is when a single employer lays off 50 or more employees.
The number of mass layoffs and new UI claims were the largest on record; the data go back to 1995. The graph below shows the number of new UI claims due to mass layoffs over the last nine years. The previous peaks were associated with the 2001 recession and terrorist attacks and Hurricane Katrina in 2005.
Microsoft announced today that it will layoff about 1,200 workers in Washington State as part of its plan to eliminate 5,000 jobs this year. To follow that news, click here.
*The data in the graph have been seasonally adjusted, which means that the BLS has accounted for seasonal variations in employment.
The number of mass layoffs and new UI claims were the largest on record; the data go back to 1995. The graph below shows the number of new UI claims due to mass layoffs over the last nine years. The previous peaks were associated with the 2001 recession and terrorist attacks and Hurricane Katrina in 2005.
Microsoft announced today that it will layoff about 1,200 workers in Washington State as part of its plan to eliminate 5,000 jobs this year. To follow that news, click here.
*The data in the graph have been seasonally adjusted, which means that the BLS has accounted for seasonal variations in employment.
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