Mass Layoffs for April 2009: Recession Waning?
Posted by Gregg Killoren on May 24, 2009
The Bureau of Labor Statistics (BLS) of the Commerce Department recently released the mass layoff figures for April 2009, which show that the pace of layoffs is easing. 271,266 workers lost their jobs as a result of 2,712 mass layoff actions taken by employers. A mass layoff is defined as an action involving at least 50 persons at a single employer.
The April numbers were less than the March 2009 figures, which showed a loss of 299,388 jobs as a result of 2,933 mass layoff actions. Although continuing job losses are certainly discouraging, the fact that the pace is slowing may prove that the recession has reached its trough. Since the recession officially began (as designated by the National Bureau of Economic Research) in December 2007, nearly 3.5 million jobs have been lost.
The entire BLS release is reported here.
