Asset Based Loan

Extended Mass Layoffs 1st Quarter 2012

According to the Wednesday, May 16th 10:00 A.M. report by the Bureau of Labor Statistics, Employers in the Private Sector initiated 1,077 mass layoff events in the first quarter of 2012, that resulted in the separation of 182,101 workers from their jobs for at least 31 days.

The bureau of labor statistics reported further that over the year, total mass layoff events and associated worker separations were down from 1,490 and 225,456. The news was in part good in that total mass layoff events reached their lowest 1st Quarter levels since 2006. Manufacturing mass layoff events and separations reached their lowest level in program history, dating back to 1995 reporting.

In summary, over the course of the 1st Quarter of 2012, according to the bureau, mass layoff events declined in 16 of the 18 major industry sectors.