Employment News
Firms See Largest Jump In Mass Layoffs Since August ‘09
By todd | Dated: 08-03-2010
According to the Bureau of Labor Statistics, more firms engaged in mass layoffs in June of 2010. Workers laid off in mass actions increased by just over 7 percent compared to May.The number of firms participating in mass layoffs increased by 16.6 percent, which marks the largest increase since August of 2009.
Analysts are worried that mass layoff actions will shift from large firms to smaller ones. Although that would decrease the overall number of workers affected, it would mean the number of firms engaging in mass layoffs high.
According to analysts, most job growth comes from smaller firms, and should the mass layoffs continue a smaller firms, then we might see a rather slow decline for the unemployment rate.
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