U.S. Mass Layoffs on Rise

In a sign of continuing trouble for the U.S. economy, mass layoffs rose in June to a level not seen since 2003. A total of 165,000 people lost their jobs as a result of mass layoffs of 50 or more people, the Bureau of Labor reported Wednesday.

Over the last year, the biggest losers in terms of jobs were California and Pennsylvania, while New York and Illinois did the best in reducing the number of unemployment claims. Six states recorded all-time highs (with data going back to 1995) for unemployment claims in the month of June: Florida, Iowa, Kentucky, Oregon, Pennslvania and Vermont.

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