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(CEP News) - U.S. mass layoff actions, involving 50 or more employees from a single firm, came in at a seasonally adjusted 2,140 in October, lower than the previous month's record 2,269 actions, the U.S. Bureau of Labor Statistics reported Friday.
The number of mass layoff events this October decreased by 129 after the prior month's total hit a seven-year high. The total number of workers involved was 232,468 in October, below the previous month's 235,681 total. The survey reported 635 mass layoffs in the manufacturing sector, resulting in 87,403 initial claims. In the previous month, there were 503 mass layoffs in the manufacturing sector, resulting in 81,414 claims. In the first ten months of the year, the total number of mass layoff events was 16,951 while the number of initial claims came in at 1,742,914, its highest level for the month since 2002. As reported in the October nonfarm payrolls report, the current unemployment rate is 6.5%, up from 6.1% in September. By Steve Stecyk,
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, edited by Nancy Girgis,
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