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Mass layoffs decline in August

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(Read caption) This chart shows mass layoff events across all industries since 2007. There were 1,267 mass layoff events in August 2012.

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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.

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