Mass Layoffs Spike

     In a further sign of trouble in the U.S. economy, mass layoffs hit a five-year high for the month of May with jobs in manufacturing taking the hardest hit. Mass layoffs – where more than 50 people are fired – resulted in the loss of 170,000 jobs in May, the highest number for that month since 2003. Of that total, fully 72,000 of the lost jobs were from the manufacturing sector.

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