Steep rise in mass layoffs

Analysis by researchers at the Economic Policy Institute clearly shows the extent to which the economy is losing jobs. Mass layoffs – defined as letting go of 50 or more people by a single employer – have doubled over the last couple years and are at their highest level in the last 15 years. In May there were almost 3,000 mass layoffs in the country (accounting for more than 300,000 lost jobs).

While any job loss is tragic, layoffs at this scale can also be traumatic for entire communities: “the closing of a plant or several mass layoffs in the same area also erode the community’s tax base, resulting in a ripple effect, such as decreased funding for schools or falling property values.”

Published by Bill

Social justice advocate and collaborative leader

One thought on “Steep rise in mass layoffs

  1. As a small business owner myself, I can attest to the fact that many of these layoffs are due to the uncertainty of the economy, due in large part to the (mis)handling by the Obama Administration and (the Democratic) Congress. The unparalleled interference with private business and expected punitive taxation of businesses and individuals is going to mean that more and more businesses of all sizes are going to operate “lean and mean” in order to stay afloat. This obviously means fewer and fewer jobs. If, on the other hand, measures would be taken to assure stability, then businesses would have more confidence is retaining employees and making new hires.

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