The U.S. labor market recorded 2.3% fewer mass layoff actions in July, with the number of mass terminations falling to 1,609 events on a seasonally adjusted basis, the Bureau of Labor Statistics reported Friday.
Those actions resulted in the estimated loss of 143,703 jobs. The July data compare with 1,647 mass layoff events in June, affecting 141,868 workers.
A layoff must involve the termination of at least 50 persons by the same employer to qualify as a mass layoff event.
The U.S. has averaged 1,983 mass layoff events a month since the recession began in December 2007, affecting an estimated 198,674 workers, according to bureau data. It averaged 1,274 mass layoff events, affecting 130,331 positions, the year before the recession.
