Mass layoff events fell 26 percent to 11 events during the first two months of 2012 in Colorado. There were 15 mass layoff events during the same period last year. According to a new report released today by the U.S. Bureau of Labor Statistics, there were 6 mass layoff events during February 2012 alone, which is up 50 percent from the 4 events reported during February of last year. Comparing the first two months of each year, both total mass layoffs and first time unemployment claims have fallen for the the past three years in a row.
Monthly mass layoff events grew rapidly after October 2008 in Colorado, and have gradually lessened since early 2010.
Nationally, mass layoff events decreased 12.5 percent from 1,024 during February 2011 to 895 during February of this year.
In the year-to-date total for February, mass layoffs have now fallen three years in a row after peaking at 15 mass layoffs during the first two months of 2009. The second graph shows year-to-date totals for February 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, job growth continues to disappoint and total employment totals remain well below 2008's peak totals.
New jobless claims
New claims for unemployment insurance rose year over year in February by 24 percent to 478 in February 2012. There were 383 new claims during February of last year. New claims for unemployment insurance have also gradually fallen since early 2010. Nationally, new claimants fell 13 percent during the same period.
As can be seen in the third graph, new unemployment claims grew year over year in Colorado, but fell nationally. February was the third time in six months that the number of new unemployment claims has grown year over year in Colorado.
In year-to-date totals for new unemployment claims through February, totals are down 26 percent year over year. There were 1034 new claims during the first two months of 2012, compared to 1509 new claims during the same period last year. In the year-to-date total for February, new claims for unemployment insurance have now fallen three years in a row after peaking at 3051 claims during the first two months of 2009. The last graph shows year-to-date totals for February since 2002: