The number of mass layoffs in New York declined for the third straight year last year, but 2011 still saw one of the highest numbers of initial unemployment insurance claims in the last 15 years.
New York employers engaged in 1,096 mass layoff events in 2011, according to the U.S. Department of Labor’s Bureau of Labor Statistics. A mass layoff event occurs when 50 or more initial claims for unemployment insurance benefits are filed against an employer during a five-week period.
There were 1,121 mass layoff events in the state in 2010 and 1,367 in 2009.
(Sponsored)
Why ESG and Sustainability Reporting Matters for Your Business
As the landscape of financial reporting has evolved, the concept of environmental, social and governance (ESG) and sustainability has grown exponentially. In 2011, only 5% of S&P 500 companies reported
Why Now Is the Time To Start Planning for Your Company’s Business Succession
You’ve built a great business, and you love what you do. Retirement is a long way off, so why worry about how you’ll transition the ownership of your company down
Initial claims for unemployment insurance in New York also fell in 2011 to more than 119,000, down from nearly 126,000 in 2010 and more than 144,000 in 2009.
The number of initial claims in 2011 remained high by historical standards, though. It was the third highest total since the Bureau of Labor Statistics began recording initial claims in 1996.
The transportation and warehousing industry was home to the most mass layoffs, with 250 in 2011. The industry also had the highest number of laid-off workers claiming initial unemployment insurance at nearly 32,000.
New York posted the third highest number of initial unemployment claims nationwide in 2011. The state’s initial claims total was below only California, which had more than 377,000 initial claims, and Pennsylvania, which had nearly 125,000.
Contact Seltzer
at rseltzer@cnybj.com
