November 27, 2002
Employers initiated 1,497 mass layoff actions in October 2002, as measured by new filings for unemployment insurance benefits during the month. Each action involved at least 50 persons from a single establishment, and the number of workers involved totaled 171,088.
In October 2001, which included the initial direct and indirect effects of the September 11 terrorist attacks, there were 1,831 mass layoff events involving 215,483 workers. In January through October 2002, both the total number of events, 15,649, and initial claims, 1,740,828, were lower than in January-October 2001 (16,306 and 1,950,013, respectively).
These data are from the Mass Layoff Statistics program. Mass layoffs data for October 2002 are preliminary and subject to revision. For more information, see news release USDL 02-660, "Mass Layoffs in October 2002" (PDF) (TXT).
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Mass layoffs in October at https://www.bls.gov/opub/ted/2002/nov/wk4/art03.htm (visited December 08, 2022).