Extended mass layoffs in the third quarter of 2007

November 19, 2007

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.

Number of extended mass layoff events in private nonfarm economy in third quarter of each year, 1997-2007
[Chart data—TXT]

While the total number of layoff events was essentially unchanged from the third quarter of 2006, the number of separations was lower than in the July-September 2006 time period.

Layoff activity in credit intermediation and related activities quadrupled over the year, mostly due to higher layoff activity in the real estate credit industry.

These data are a product of the Mass Layoff Statistics program. "Extended mass layoffs" last more than 30 days and involve 50 or more individuals from a single establishment filing initial claims for unemployment insurance during a consecutive 5-week period. Data for the third quarter of 2007 are preliminary and subject to revision. Additional information is available in "Extended Mass Layoffs in the Third Quarter of 2007" (PDF) (TXT), news release USDL 07-1791.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Extended mass layoffs in the third quarter of 2007 on the Internet at http://www.bls.gov/opub/ted/2007/nov/wk3/art01.htm (visited October 24, 2014).

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