New York employers reported about 1,250 mass layoffs in 2012, resulting in more than 141,000 job cuts, as measured by new filings for unemployment- insurance benefits during the year.
That’s according to statistics the U.S. Bureau of Labor Statistics (BLS) released today.
The number of claims rose by more than 21,700 compared to 2011 to reach the second highest total in the history of the series, which goes back to 1996 on an annual basis, according to the BLS.
(Sponsored)
Inflation and Insurance Rates: How to Offset the Impact
Many industries have been hit by inflation where it hurts the most, our pockets. Inflation is raising the price of goods and services including food, housing, transportation, and medical care.
Sales Employees are Not Always Exempt from Overtime
Are you sure that your company’s sales staff are properly categorized as exempt from the overtime requirements of the Fair Labor Standards Act (FLSA)? The FLSA regulations make it
Each layoff action involved at least 50 employees from a single employer, the agency said.
Of all the industry sectors in New York, transportation and warehousing generated the most mass layoffs with 278, resulting in more than 35,200 claims for unemployment insurance.
Accommodation and food services had the next highest number of layoffs at 133 and initial claimants at more than 14,600.
Of the 11 sectors recording an increase in mass layoffs-related initial claimants compared to 2011, retail trade registered the largest increase at more than 4,100, reaching a high in 2012.
Contact Reinhardt at ereinhardt@cnybj.com
