Monthly mass layoff events grew rapidly after October 2008 in Colorado, and have gradually declined since. They have fallen off considerably since August 2012.
Nationally, mass layoff events decreased 31.7 percent from 1,189 during September 2011 to 811 during September of this year.
In the year-to-date total for September, mass layoffs have now fallen three years in a row after peaking at 131 mass layoffs during the first nine months of 2009. The second graph shows year-to-date totals for September since 2002:
Mass layoffs were rare from 2004 through most of 2008.
Overall, the most recent mass layoffs data suggests that the employment situation continues to stabilize. New layoffs continue to lessen, but as we've seen in the most recent employment data for Colorado, job growth continues to disappoint and total employment totals remain well below 2008's peak totals.
New jobless claims
New claims for unemployment insurance fell year over year in September by 54 percent to 307 in September 2012. There were 680 new claims during September of last year. New claims for unemployment insurance have also gradually fallen since early 2010. Nationally, new claimants fell 39 percent during the same period.
As can be seen in the third graph, during September new unemployment claims fell year over year in Colorado and nationally. Claims have fallen by more than 50 percent for both August and September 2012, and are some of the largest declines reported since March 2010.
Initial claimant. A person who files any notice of unemployment to initiate a request either for a determination of entitlement to and eligibility for compensation, or for a subsequent period of unemployment within a benefit year or period of eligibility.
Mass layoff event. Fifty or more initial claims for unemployment insurance benefits filed against an employer during a 5-week period, regardless of duration.