Mass layoffs lower in May 2004

In May 2004, employers took 988 mass layoff actions, as measured by new filings for unemployment insurance benefits during the month. Each action involved at least 50 persons from a single establishment, and the number of workers involved totaled 87,501.

[Chart data—TXT]

Both the number of events and initial claims were sharply lower than a year ago. The number of mass layoff events was at its lowest level for any May since 2000, and the number of associated initial claims was at its lowest level for any May since 1996.

From January through May 2004, the total number of events, at 6,735, and of initial claims, at 661,024, were lower than in January-May 2003 (8,169 and 799,037, respectively).

These data are from the Mass Layoff Statistics program. Mass layoffs data for May 2004 are preliminary and subject to revision. May 2004 contained 4 weeks for possible mass layoffs, compared with 5 weeks in each May of the prior 2 years. See the full news release, "Mass Layoffs in May 2004" (PDF) (TXT), USDL 04-964, for more information.