The number of people in the United States who lost their jobs in October fell in October from September.

According to an article on Reuters, “the Labor Department said the 2,127 mass layoff actions reported in October — defined as job cuts involving at least 50 people from a single employer — was down 434 from September. The layoffs affected 217,182 workers, down from 248,006 in September. Mass layoff events were down by 77 from October 2008.”

Experts say the labor market is showing signs of hitting bottom and could begin re-stabilizing in the first or second quarter of 2010.

The U.S. unemployment rate rose to 10.2 percent in October, the highest it has been in 26 years.
The Department of Labor reports that there has been a total of 49,357 layoffs reported since December 2007.