Extended mass layoffs in second quarter
August 15, 2002
In the second quarter of 2002, 1,754 extended mass layoff actions were taken by employers that resulted in the separation of 392,338 workers from their jobs.
For the second consecutive quarter, both the total number of layoff events and the number of separations were lower than in the same quarter a year earlier. The decline was most notable in manufacturing industries.
Manufacturing industries accounted for 28 percent of private-sector layoff events and 24 percent of all separations during April-June 2002. A year earlier, manufacturing accounted for 41 percent of private-sector events and 35 percent of separations.
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 second quarter of 2002 are preliminary and subject to revision. Additional information is available in "Extended Mass Layoffs in the Second Quarter of 2002" (PDF) (TXT), news release USDL 02-479.
SUGGESTED CITATION
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Extended mass layoffs in second quarter on the Internet at https://www.bls.gov/opub/ted/2002/aug/wk2/art04.htm (visited July 23, 2017).
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