Manufacturing mass layoffs up
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Manufacturing News, Source : TheManufacturer.com
Published : 24 Nov 2004 17:23
The manufacturing sector had 30 percent of all mass layoff events and 38 percent of all initial claims filed in October, according to data from the US Department of Labor's Bureau of Labor Statistics.
A year ago, manufacturing comprised 29 percent of events and 34 percent of initial claims. Within manufacturing, the number of claimants was highest in transportation equipment (12,733, mainly automotive-related), followed by food processing (9,049) and machinery (4,224).
In October 2004, employers in all industries took 1,241 mass layoff actions, as measured by new filings for unemployment insurance benefits during the month. Each action involved at least 50 persons from a single establishment, and the number of workers involved totaled 127,774. Both the number of events and initial claims were the lowest for any October since October 2000.
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