2,763 Mass Layoff Actions In June

As most of you already know June has been the worst month so far for unemployment. According to the labor department the number of layoffs in June amounted to a staggering 467,000 as compared to 345,000 in May. The Bureau of Labor issued a press release today which shows employers took 2,763 mass layoff in the month of June which accounted in the separation of 279,231 workers. Below are some highlights from the report on layoffs,

1. Each layoff action involved at least 50 person from each employer.
2. The number of mass layoff events decreased by 170 and associated initial claims decreased by 33,649.
3. In June, 1,235 mass layoff events were reported in the manufacturing sector.
4. The industry with the largest number of initial claims was elementary and secondary schools (28,751), which includes both publicly- and privately owned
   entities.
5. The manufacturing sector accounted for 27 percent of all mass layoff events.
6. Midwest registered the highest number of initial claims in June due to mass layoffs (76,301), followed by the West (71,501) and the South (61,962)
7. California recorded the highest number of initial claims filed due to mass layoff events in June with
   56,138.

We have included the information released by Bureau of Labor Statistics below

June Mass Layoff

The new Federal Minimum Wage will come in effect starting tomorrow (24th July). Share your thoughts on whether this is going to help or worsen the job market and layoffs.

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