Monday, November 17, 2008

Mass Layoffs on the Rise

As reported in the NY Times (hat tip Laura R.):

When a company lays off 50 or more workers, the government considers this to be an “event,” almost as if it were a wedding or a concert. But no one is excited that more of these events occurred in the third quarter of 2008 than they did in the period a year earlier.

According to preliminary data from the Bureau of Labor Statistics, 1,330 extended mass layoffs occurred in the third quarter, 312 more than in 2007.
Looking at just the September 2008 claims from mass layoffs vs. September 2007, we can see just how large an increase we've seen across the board. Interesting / unfortunately, it looks like the finance and insurance layoffs that have made the news were the least of the economy's problems to date (this will most assuredly change by year end).

Source: BLS

3 comments:

Andrew said...

Hi Jake,

I'm emailing you in regards to an email I sent to you last month about a partnership, have you had a chance to think about it?

If you have any questions or would more information, please advise me and we can go from there.

Kind Regards,
Andrew Knight

Ray said...

I still see high paying jobs posted on popular job sites -

www.linkedin.com (professional networking)
www.indeed.com (aggregated listings)
www.realmatch.com (matches jobs based on your skills)

They will find new work.

Jake said...

andrew-

i never received your email. please contact me at econompicdata@gmail.com

thanks,

jake

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