Mass layoffs down
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Manufacturing News, Source : TheManufacturer.com
Published : 18 May 2004 16:12
Manufacturing industries accounted for 32 percent of private nonfarm layoff events in the first quarter of 2004, according to figures released today by the US Department of Labor’s Bureau of Labor Statistics.
Layoff activity in the manufacturing sector was concentrated in food manufacturing (11,005 workers), followed by transportation equipment manufacturing (8,874 workers) and computer and electronic product manufacturing (3,912 workers).
In the first quarter, 1,204 mass layoff actions in all industries were taken by employers in the private nonfarm economy that resulted in the separation of 239,361 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 first quarter of 2003 and were the lowest for a first quarter since 2000.
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