Mass Layoffs Down in July

Some good news from the Labor Department this morning: Mass layoffs, where an employer fired more than 50 workers within a month, decreased year-on-year and from June to July.

The data shows that the manufacturing sector has improved, year on year, though layoffs remain high. This July, manufacturers made 25 percent of mass layoffs, accounting for 31 percent of new unemployment claims. A year ago, it accounted for 37 percent of events and 46 percent of claims.

But the bad news? This year, the single subsector that laid off the highest number of workers en masse is secondary and elementary schools. In July. Right before the school year starts. Bus drivers weren’t spared either.