Mass layoffs decline in August(Read article summary)
The latest Bureau of Labor Statistics data showed a fall in mass layoffs in August. A mass layoff is when at least fifty initial claims for unemployment insurance originate from a single employer over a period of five consecutive weeks.
The latest release of the Bureau of Labor Statistics (BLS) Mass Layoff Report indicated a decline in large-scale layoffs with 1267 mass layoff events for August resulting in 127,454 initial unemployment claimants on a seasonally adjusted basis.
The BLS considers a mass layoff event to be a condition where there are at least fifty initial claims for unemployment insurance originating from a single employer over a period of five consecutive weeks.