Mass Layoffs Decline In Manufacturing

ByJohn S. McClenahen Although some companies continue to trim their workforces, mass layoffs in manufacturing last month declined dramatically. The number of employer layoffs involving at least 50 people from a single company fell to 240 in February from 848 in January, the U.S. Labor Department reported March 24. Last month a total of 23,043 workers were affected by layoffs, down from 89,551 affected in January. The manufacturing sector of the U.S. economy accounted for 26% of all mass layoffs in February, the smallest share for any February on record, the Labor Department says.