Monday, September 5, 2011

"Mass Layoffs" In U.S. Up 3 Percent

Ben Tracy

The jobless numbers that came out Friday were hardly encouraging. The government said the unemployment rate in August was stuck at 9.1 percent, with as many jobs lost as created. Here's some more bad news: The number in a category the government calls "mass layoffs" has jumped by 3 percent. Mass layoffs are when employers let go of 50 or more people at one time. CBS News correspondent Ben Tracy reports that when Borders closed all of its book stores this summer, more than 10,000 people suddenly found themselves out of a job. "We kinda all just walked around in a daze. We didn't know what to do," says former Borders employee Stacy Murray.

"I think things are gonna turn around. I'm optimistic things are gonna get better," Robert says. But back in San Diego, where California's unemployment rate is second-highest in the nation at a whopping 12 percent, Stacy's search for a new job is much harder. "How can the economy support all those people looking for jobs? It makes me feel like I have a lot more competition," Stacy says. It's a competition she can't afford to lose.

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