Mass Layoffs Reach New High

It’s not very “green shoot-y” to learn that mass layoff events reached their highest level ever on record in March. Admittedly, the record only goes back to 1995. But even putting the point in as restrained a way as possible, the point is that there were more mass layoffs in March than there were in February, and more in February than there were in January. Things are getting worse. Here’s a chart:


About the best that I think you can really say is that things are arguably getting worse at a slower pace than they were before. Even there, though, one can’t necessarily read too much into that. After a lot of deterioration in the summer of 2008, the acceleration of mass layoffs stopped in September. But rather than starting to fall, they plateaued at a high level and then started accelerating again.