US April mass layoffs rise led by manufacturing

WASHINGTON, May 21 (BestGrowthStock) – The number of mass layoffs
by U.S. employers rose in April led by manufacturers who shed
workers even as the economy began to recover.

The U.S. Labor Department said the number of mass layoff
events — defined as job cuts involving at least 50 people from
a single employer — increased by 228 to 1,856 as employers
shed 200,870 jobs on a seasonally adjusted basis.

The number of mass layoffs in the manufacturing sector
totaled 448 resulting in 63,616 initial jobless benefit claims,
the department said. That was more than 24,000 higher than the
previous month, but well below the 125,000 initial jobless
claims in the manufacturing sector a year ago.

The Labor Department said the manufacturing sector
accounted for 23 percent of all mass layoffs and 28 percent of
the initial claims filed in April.

The U.S. jobs market is lagging the broader economic
recovery that started in the second half of 2009. Since
December 2007, when the worst recession in 70 years started,
the U.S. economy has shed more than 8 million jobs and the
latest data suggest it will take some time to make up for those
losses.

Monthly data suggest employers are beginning to add jobs,
but the overall unemployment rate remained stubbornly high at
9.9 percent in April, up from 9.7 percent the previous month,
as discouraged workers started to look for work again.

In April, nonfarm payroll employment increased by 290,000,
but was down by 1.381 million from a year earlier.

In the 29 months since the recession began in December
2007, the total number of mass layoff events on a seasonally
adjusted basis was 58,793, resulting in a total 5.9 million
initial claims for jobless benefits, the Labor Department
reported.
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(Reporting by Donna Smith; Editing by Theodore d’Afflisio)

US April mass layoffs rise led by manufacturing