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June 07, 2023 | Chart
The Worker Adjustment and Retraining Notification (WARN) Act of 1988 requires most companies with 100 or more employees to provide a 60-day advance notification of mass layoffs to employees. Data is collected from 23 states and aggregated into a national time series. This provides a leading indicator of national job loss two months ahead. In March of 2023, advance layoff notice levels surpassed pre-COVID averages and are expected to continue rising in anticipation of a mild recession.
