In Perspective Bureau of Labor Statistics and Current Population Survey data puts recent large-scale layoff announcements in perspective: Annually, job creation is still outpacing job elimination, and has since ’95; mass layoffs account for only 20% of unemployment—as they have for the past 5 years; public layoff announcements grew 6 times as fast as people were actually laid off. A widely quoted March report by the career services firm Challenger, Gray and Christmas stated that the number of employees affect-ed by layoff announcements had increased 300% since March ‘00. But those who actually became unemployed rose by only 24%, a sign of slowdown, but not of full-fledged recession. (World 5/12/01)
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