Mass Layoffs Mount In November

December 28, 2001 ( - Some 2,699 mass layoff actions, those involving 50 or more employees, occurred in November, according to the Bureau of Labor Statistics.

And new filings for unemployment insurance benefits over the month showed that the number of workers involved totaled 293,074, the highest for the month of November since the series began in 1995.

Year to date, the total number of events stands at 18,920, compared to 13,061 last year, while initial claims have hit 2,228,945, substantially higher than last year’s 1,508,849.
In comparison, mass layoff events totaled 1,316 involving 158,859 workers in September, and 1,816 involving 212,695 in October.

In November,

  • Manufacturing industries accounted for 42% of all mass layoff events and 52% of all initial claims, with the transportation equipment, industrial machinery and electronic equipment industries hardest hit,
  • services accounted for 18% of events and 15% of initial claims filed during the month, with layoffs concentrated in business services,
  • jobs lost in the construction industry accounted for 10% of all initial claims filed, and