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885 Mass layoff events in third quarter 2012

885 Mass layoff events is the figure reported by the Bureau of Labor Statistics in it’s 10:00 A.M., Thursday, November 8th, 2012 report.

The bureau further reported that the layoffs were in the private non farm sector.    These 885 Mass layoff events resulted in a total of 138,484 separations from their jobs for at least 31 days.  Permanent work site closures and were primarily in the manufacturing sector.  Manufacturing industries reported 196 extended mass layoff events and 29,350 separations in the third quarter of 2012, largely due to insufficient demand.    This sector accounted for 22% of layoff events and 21% of related separations during the quarter.

Business demand factors, including contract competition, accounted for 44% of both extended mass layoff events and related separations in the private non farm sector in the third quarter of 2012.