Global| Jul 22 2011U.S. Mass Layoffs Stabilize
by:Tom Moeller
|in:Economy in Brief
Summary
Mass layoffs in the U.S. during June fell and reversed the May increase. The Labor Department reported this morning that layoffs of 50 or more persons from a single firm fell 4.2% in June versus May following that month's 2.2% [...]
Mass layoffs in the U.S. during June fell and reversed the May increase. The Labor Department reported this morning that layoffs of 50 or more persons from a single firm fell 4.2% in June versus May following that month's 2.2% increase. Nevertheless, the latest seasonally adjusted level of 1,532 remained up from last year's low.
The monthly downturn was led by construction, retail trade, finance & insurance, professional scientific & technical services and accommodation & food services. A mass layoff involves at least 50 initial claimants from a single establishment filing during a consecutive 5-week period. The BLS data are available in Haver's USECON database. Underlying state and area detail are available in the REGIONAL database.
| Mass Layoffs | Jun | May | Apr | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|
| Total (SA) | 1,532 | 1,599 | 1,564 | 19,350 | 28,236 | 21,689 |
| Total (Y/Y) | -11.4% | -4.0% | -6.6% | -31.5% | 30.2% | 42.1% |
| Private Nonfarm | -10.4 | 0.0 | -6.5 | -34.6 | 29.8 | 43.5 |
| Construction | -30.6 | -13.8 | -1.2 | -20.2 | 18.4 | 22.6 |
| Manufacturing | 6.6 | 25.0 | -6.4 | -53.0 | 40.1 | 48.0 |
| Retail Trade | -23.4 | -10.7 | -5.8 | -19.9 | 34.9 | 39.0 |
| Information | 0.0 | -12.2 | -16.0 | -27.1 | 38.0 | 42.3 |
| Finance & Insurance | -53.8 | 4.3 | -34.4 | -36.5 | 22.6 | 8.2 |
| Health Care & Social Assistance | 1.7 | 21.4 | -20.7 | 5.0 | 16.4 | 28.9 |
| Arts, Entertainment and Recreation | 3.4 | -25.0 | -21.1 | -6.7 | 25.1 | 29.6 |
| Government | -18.1 | -21.0 | -17.7 | 5.3 | 58.2 | 29.3 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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