Layoffs and Claims Highest Since 2001

     October seasonally adjusted mass layoff events (2,140) and initial claims (232,468) decreased from the prior month.
However, both layoff events and initial claims reached their highest October levels since 2001. Twelve states reached program highs in terms of average weekly initial claims for the month of October.

Jobs Lost Exceed Jobs Created by 3 Million

     From December 2007 to March 2008, the number of job gains from opening and expanding private sector establishments was 7.1 million, and the number of job losses from closing and contracting establishments was
7.4 million.