U.S. mass layoffs fall again in December – Labor

WASHINGTON, Jan 27 (BestGrowthStock) – The number of mass layoffs
of U.S. workers fell in December, the fourth straight monthly
decline, government data showed on Wednesday, a sign the job
market is slowly healing.

Last month saw 1,726 mass layoffs — defined as affecting
50 or more workers, the Labor Department said. This brought the
total number to 153,127, the lowest since July 2008.

Mass layoffs were down by 87,000 from November.

Treasury Secretary Timothy Geithner said last month
Americans are unlikely to find new jobs before next spring, but
he insisted the economy was on the mend.

Mass layoffs now total 51,978 since the start of the
recession in December 2007, resulting in the loss of 5.3
million jobs, the department said.

The monthly mass layoff numbers are compiled from
establishments with at least 50 initial claims for unemployment
insurance during a five week period.

In December, 433 mass layoff actions were reported in the
manufacturing sector, the lowest level since November 2007, the
Labor Department said.

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(Reporting by Nancy Waitz; Editing by Kenneth Barry)

U.S. mass layoffs fall again in December – Labor