Mass Layoff Events Accelerating
by: Tyler Durden May 23, 2009
The Bureau Of Labor Statistics' Mass Layoff Events statistic indicates that the wholesale firing by corporations is accelerating once more after a small respite in the January to March period. The BLS defines a Mass Layoff Event as one that occurs when an establishment has at least 50 initial unemployment compensation claims filed against it within a five-week period and the layoff lasts longer than 30 days. In other words, as the name implies, a mass layoff (and the
reason for EPS to be sterling when revenues continue collapsing in all those Q1 earnings calls). This goes hand in hand with initial jobless claims reports. Chart of both are provided below (click to enlarge
) [link to BLS data here
]. Kinda tough to spot the green shoots through the very deep parasitic undergrowth on these two charts.