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The number of Americans laid off from their jobs hit a record low in May, as companies cling onto their workers during the crippling labor shortage

The number of Americans laid off from their jobs hit a record low in May, as companies cling onto their workers during the crippling labor shortage

Layoffs in the US are at a record low, a new report showed.
Willie B. Thomas/Getty




The number of people being laid off in the US hit a record low in May, jobs data revealed.




It suggests companies are keeping hold of their staff amid the huge labor shortage.




Many companies are struggling to find staff, and have been raising wages as a result.




See more stories on Insider's business page.


The number of layoffs in the US hit a record low in May, jobs data from the Bureau of Labor Statistics (BLS) showed.It's a sign that companies are clinging onto their workers during a severe labor shortage.The layoffs and discharge rate dropped to 0.9% in May, according to the BLS report released Wednesday, a record low dating back to 2001. This means that for every 1,000 workers, nine were laid off. In the accommodation and food services sector, where the labor shortage has hit hardest, the rate fell from 1.5% in April to 1.2% in May, according to the report.
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