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)
What is Fiducuary Liability and how does it affect you and your business?
Managing a company’s insurance needs can be complex and stressful. It doesn’t need to be when adding certain specialty insurance products, like fiduciary liability insurance. It protects the sponsoring company;
Embracing CHange Across the Generations
CH Insurance, Your LOCAL Partner for Insurance, Risk Management & Group Benefits Massive shifts have transformed workplaces and the world, including the insurance industry. From the advent of AI and
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
