Mass manufacturing layoffs down
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Manufacturing News, Source : TheManufacturer.com
Published : 12 Feb 2004 17:42
Manufacturing industries accounted for 26 percent of private-sector layoff events during the fourth quarter of 2003, according to preliminary figures released by the US Department of Labor’s Bureau of Labor Statistics.
The 83,438 worker separations in manufacturing were the lowest for any fourth quarter since the mass layoff series began in 1995. Layoff activity was concentrated in food manufacturing (26,167, largely in the seasonal fruit and vegetable canning industry), followed by nonmetallic mineral product manufacturing (7,429), transportation equipment manufacturing (5,959), and computer and electronic product manufacturing (5,667).
In the fourth quarter of 2003, 1,956 mass layoff actions were taken by employers in all sectors, that resulted in the separation of 359,085 workers from their jobs for at least 31 days,
Both the total number of layoff events and the number of separations were sharply lower than in the fourth quarter of 2002 and were the lowest for a fourth quarter since 1999. The decline over the year was most notable in general merchandise stores, computer and electronic product manufacturing, and machinery manufacturing.
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