Mass Layoffs Down in July
Some good news from the Labor Department this morning: Mass layoffs, where an employer fired more than 50 workers within a month, decreased year-on-year and
Jul 31, 2020665 Shares664.6K Views
Some good news from the Labor Department this morning: Mass layoffs, where an employer fired more than 50 workers within a month, decreasedyear-on-year and from June to July.
The data shows that the manufacturing sector has improved, year on year, though layoffs remain high. This July, manufacturers made 25 percent of mass layoffs, accounting for 31 percent of new unemployment claims. A year ago, it accounted for 37 percent of events and 46 percent of claims.
But the bad news? This year, the single subsector that laid off the highest number of workers en masse is secondary and elementary schools. In July. Right before the school year starts. Bus drivers weren’t spared either.
Camilo Wood
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Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing.
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