Mass layoffs in 2007
January 25, 2008
In 2007, the total numbers of mass layoff events, at 15,493, and initial claims for unemployment insurance benefits, at 1,598,875, were higher than in 2006.
In 2006, there were 13,998 mass layoff events and 1,484,391 initial claims.
Among the major industry sectors, manufacturing had the largest over-the-year increase in mass layoff-related initial claims from 2006 to 2007. Manufacturing accounted for 30 percent of all mass layoff events and 38 percent of initial claims filed during 2007, about the same as 2006. The finance and insurance industry registered its highest levels ever for mass layoff events and initial claims in 2007.
The Midwest reported 509,431 initial claims filed due to mass layoffs in 2007, more than any other region. Layoffs in transportation equipment manufacturing accounted for 31 percent of the claims in the Midwest. Administrative and support services, heavy and civil engineering construction, and machinery manufacturing accounted for an additional 17 percent of layoffs in that region in 2007.
These data are from the Mass Layoff Statistics program. See "Mass Layoffs in December 2007 and Annual Totals for 2007" (PDF) (TXT), news release USDL 08-0091, for more information. Each mass layoff event involves at least 50 persons from a single establishment.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Mass layoffs in 2007 on the Internet at https://www.bls.gov/opub/ted/2008/jan/wk3/art04.htm (visited August 08, 2020).
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