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Mass Layoffs—October 2012

U.S. Bureau of Labor Statistics (11/20/12)

Employers took 1,360 mass layoff actions in October involving 131,173 workers as measured by new filings for unemployment insurance benefits during the month, the U.S. Bureau of Labor Statistics reported on Nov. 20. Mass layoff events in October increased by 44 from September, and the number of associated initial claims increased by 8,711.

Over the year, the number of average weekly mass layoff events for October increased by 11 to 286, and associated average weekly initial claims increased by 3,228 to 27,457. Eleven of the 19 major industry sectors in the private economy reported over-the-year increases in average weekly initial claims, with the largest increase occurring in manufacturing. The six-digit industry with the largest number of private nonfarm initial claims due to mass layoffs in October was temporary help services.