Mass layoffs in manufacturing rose in March

In March 2006 employers took 1,082 mass layoff actions, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Each action involved at least 50 persons from a single establishment, and the number of workers involved totaled 118,555, on a seasonally adjusted basis. The number of layoff events rose by 9, and the number of associated initial claims increased by 7,087 from February 2006. In the manufacturing sector, 328 mass layoff events were reported during March 2006, seasonally adjusted, resulting in 49,023 initial claims. Both figures were higher than a month earlier.

The manufacturing sector accounted for 31 percent of all mass layoff events and 40 percent of all initial claims filed in March; a year earlier, manufacturing comprised 31 percent of events and 37 percent of initial claims. In March 2006 the number of manufacturing claimants was highest in transportation equipment manufacturing (14,958, mostly automotive-related), followed by food manufacturing (7,519).

More information about March mass layoffs can be found here.