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Economy in Brief
German PPI Accelerates
The German year-on-year PPI has generally been decelerating since early 2017...
U.S. Leading Economic Indicators Signal Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.3% during March...
Philadelphia Fed Factory Conditions Improve; Prices Jump
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rose to 23.2 during April...
U.S. Initial Claims for Unemployment Insurance Are Little Changed
Initial unemployment insurance claims slipped to 232,000 (-6.1% y/y) during the week ended April 14...
U.K. Retail Sales Fall
U.K. GDP is expected to cool its jets when the first quarter GDP number is released...
by Tom Moeller August 23, 2006
The number of mass layoff events in July increased 2.6% after a 2.1% gain during June. Despite the increases, layoff events during the first seven months of 2006 remained down 11.4% from the year earlier period.
During the last ten years there has been a (negative) 85% correlation between the three month average level of layoff announcements and the y/y change in payroll employment.
The number of persons affected in July by mass layoffs fell 4.0% m/m and were 14.4% lower during the first seven months of 2006 versus last year.
Increased layoffs in manufacturing (-3.6% y/y) and in real estate (-17.4% y/y) dominated the increase in claimants for unemployment last month. Declines elsewhere were widespread.
The Mass Layoff Statistics (MLS) program collects reports on mass layoff actions that result in workers being separated from their jobs. Monthly mass layoff numbers are from establishments which have at least 50 initial claims for unemployment insurance (UI) filed against them during a 5-week period.
| Mass Layoffs | July | June | Y/Y | 2005 | 2004 | 2003 |
|---|---|---|---|---|---|---|
| All US Industries (# Events, SA) | 1,125 | 1,097 | -9.9% | 15,699 | 15,926 | 19,220 |
| Total (# Persons, SA) | 114,895 | 119,662 | -12.4% | 1,722,452 | 1,591,081 | 1,946,548 |
