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In the first quarter of 2008, there were 1,111 mass layoff events that resulted in the separation of 188,326 workers from their jobs for at least 31 days, according to preliminary figures released on May 15 by the Bureau of Labor Statistics. A strike at a transportation equipment manufacturer was a contributing factor in 31 extended layoff events, affecting 19,887 workers at other firms.
The total number of layoff events was essentially unchanged from the January-March 2007 time period, while the number of associated separations was lower. First quarter 2008 layoff data are preliminary and are subject to revision.
Among the 7 categories of economic reasons for layoff, business demand accounted for the highest share of events (47 percent) and number of separations (79,358) in January-March 2008. Layoff activity attributed to business demand factors increased from the same period in 2007, when these reasons were cited in 39 percent of layoff events and involved 62,693 laid-off workers.
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