Bureau of Labor: 134,000 Lost Jobs in August

It is not a surprise to the leasing industry that more U.S. workers lost jobs

in August than any other month in “mass layoffs,”, according to the Bureau of Labor Statistics,that they interpret as continuing cutting of jobs.

The Leasing News list has remained steady, even though we get around

ten new reader requests a day.  At the same time, five or more ask to

be removed, mostly because they are leaving the industry, they tell

us.  Many are going to work at mortgage companies, community and

small banks, the real estate business, or completely changing their profession.

The Leasing News Classified List works, but it gets bigger each day.  DVI

itself laid off over 175 employees, according to their bankruptcy filings,

requesting a “stay bonus” program for those who stay as they “dissolve” for remaining 175.  Where are they to go?

The latest statistic is from what the Bureau of Labor calls “”mass layoffs,” where

firing occur for more than 50 works in a single month by a single employer.

These come from  initial claims for unemployment benefits filed with state agencies. The numbers include temporary and permanent firings.

About 134,000 workers lost their jobs in 1,258 mass layoffs nationwide last month, up from the 128,103 employees who were fired in 1,248 such actions in August 2002, the bureau said.

Of course,  manufacturing took the hardest hit of any sector in August, accounting for nearly a third of all mass layoffs and more than a third of the number of workers who lost jobs, the report said. Job losses were also reported in transportation equipment, textile mills, machinery and food manufacturing.

California, New York, Illinois, North Carolina and Texas had the most mass layoffs, the report said.