The employment restructuring report is compiled by Kelly Services. It provides a timely review of economic, labor and hiring conditions in the relevant markets, with a detailed focus on the most recent data regarding mass layoffs and restructuring. The report is compiled utilizing publicly available data from official, private and not-for-profit organizations. Published on a quarterly basis, the employment restructuring report is available in separate editions for the United States and European Union.

1. 2011
employment
restructuring
3
report
u n i t e d s tat e s e d i t i o n

2. 2 | employment restructuring report | united states edition Q3 2011
contents summary p/3
metHodology notes:
the employment
01
restructuring report is
compiled using publicly
available data from official,
us labor market trends p/4 private and not-for-profit
organizations. in general,
02 this report utilizes the Bls
definition for ‘mass layoffs’,
us regional labor trends p/7 (establishments which have
at least 50 initial claims for
03 unemployment insurance
filed against them during
most heavily impacted sectors p/9 a 5-week period). Job
creations and layoffs are
04 associated with their date
of announcement, not the
reasons for announced job losses p/12 scheduled completion date.
05 disclaimer:
us labor market outlook p/14 This information
is provided with
the understanding
06
that it is not
guaranteed to be
correct or complete
major announced us job layoffs p/16 and conclusions
drawn from such
information are the
sole responsibility of
about this report p/28 the user. Attempts
have been made to
ensure that this data
or documentation is
accurate and reliable;
Kelly Services does
not assume liability for
any damages caused
by inaccuracies
in this data or
documentation.
Kelly Services
grapHs makes no warranty,
expressed or implied,
US mass layoffs p/5 as to the accuracy,
completeness,
US job openings p/6 or utility of this
Announced job layoffs by US region p/8 information, nor does
the fact of distribution
Announced US job layoffs by industry sector p/10 constitute a warranty.
US job openings by industry sector p/11
Main reasons for job layoffs in the US p/13
Chicago Fed National Activity Index, Three Month Moving Average p/15

3. Home
3 | employment restructuring report | united states edition Q3 2011 contents
summary
01 us laBor
market trends
02 us regional
laBor trends
03 most Heavily
summary ➔ The United States labor
market continues an anemic
pressure on unemployment
in coming months. The
month. But recent shocks
to the economy and share
to prevent unemployment
remaining flat for some time.
impacted sectors
04 reasons
for announced
trend, with employment unemployment rate has held market volatility have JoB losses
growth struggling to remain steady since April at slightly unnerved both investors There is a very real possibility 05 us laBor
market outlook
positive. Despite signs of more than 9 percent, and the and consumers. The August that job layoffs will increase
06 maJor
life earlier in the year, the US headwinds now hitting the figures, revised to 57,000 jobs as the economy undergoes announced
us JoB layoffs
labor market has reverted to a US economy will likely see it created, made it clear that any a difficult patch, and as
aBout tHis
prolonged period of sub-par stuck in a holding pattern until earlier optimism about jobs businesses that have withstood report
job growth. job creation gets moving to a recovery was premature. the 2009 downturn and its
point consistently upward of aftermath, finally succumb to
During the second quarter 150,000/month. The debt-ceiling standoff, pressure to downsize.
of 2011, real GDP increased at European sovereign debt
an annual rate of 1.3 percent The number of layoffs concerns and even the Ultimately, there is the
and the labor market remained recorded in the second Japanese earthquake have prospect that the economy
largely unchanged, with quarter totaled almost 470,000 all conspired to derail hopes could lurch back into recession
layoffs and job openings and while this was up slightly of a fledgling recovery. but that will probably depend
holding to the pattern of on the first quarter, it is about on how markets absorb the
previous months. 25,000 less than a year ago. Growth forecasts for the rest global debt situation. While
of 2011 and into 2012 have in the US, the debt crisis has
The economic recovery in the Employment growth during been lowered to a point that at least been subdued, in
US continues but is extremely the second quarter averaged cannot absorb sufficient jobs Europe, it’s still a live issue.
fragile, and this will place real fewer than 100,000 jobs/
tHe economic recovery in tHe us continues But is
extremely fragile, and tHis will place real pressure
on unemployment in coming montHs.

4. Home
4 | employment restructuring report | united states edition Q3 2011 contents
summary
01 us laBor
market trends
02 us regional
laBor trends
01
03 most Heavily
➔ The number of layoffs shows that the manufacturing impacted sectors
ticked-up somewhat during sector recorded exceptional 04 reasons
for announced
the second quarter of 2011, lows in both the number of JoB losses
05 us laBor
increasing by approximately layoff events and the number market outlook
us laBor 52,000 to 469,760 of workers separated. 06 maJor
announced
earlier, and half a million revisions of the US economic us JoB layoffs
market The pattern of layoffs has
remained relatively stable at
The national unemployment
rate stood at 9.1 percent, with
higher than in the trough in growth figures can only mean
aBout tHis
report
trends under 500,000 since the start growth in payrolls still falling
mid-2009. one thing – the unemployment
rate will ratchet higher. This is
of 2010, having seen a steady short of the long term trend.
Since February, the level of
The August data showed just hard to bear at any time, but
decline from the peak of more job openings has remained
57,000 job gains however a jobless rate approaching 10
than 800,000 at the height of largely flat as the economy
the jobs bill proposal has at percent approaching the 2012
the economic recession. has pulled back somewhat
least ensured the issue has presidential election campaign
from the more robust level of
The figures from the Bureau a renewed urgency in US would be political poison.
activity that prevailed in 2010.
of Labor Statistics show that political discourse. Subdued domestic activity and
All the evidence suggests that
not only are fewer workers nervousness about debt, both
The number of job openings more will need to be done to
being impacted by layoffs, but in the US and Europe, mean
across the US stood at 3.1 stimulate domestic activity and
the actual number of layoff that private sector demand for
million at the end of June, generate jobs growth, at least
“events” is also declining. labor is lackluster.
scarcely changed from the until the worst of the financial
The breakdown of the previous month but about With job hiring already in the crisis is over and cyclical
numbers into industry sectors 250,000 more than a year doldrums, further downward growth returns.


5. 400000 Home
5 | employment restructuring report | united states edition Q3 2011 contents
summary
01 us laBor
200000 market trends
2005/Q1 2005/Q3 2006/Q1 2006/Q3 2007/Q1 2007/Q3 2008/Q1 2008/Q3 2009/Q1 2009/Q3 2010/Q1 2010/Q3 2011/Q1
2005/Q2 2005/Q4 2006/Q2 2006/Q4 2007/Q2 2007/Q4 2008/Q2 2008/Q4 2009/Q2 2009/Q4 2010/Q2 2010/Q4 2011/Q2 02 us regional
laBor trends
03 most Heavily
impacted sectors
04 reasons
for announced
us mass layoffs (Q1 2005 to Q2 2011) JoB losses
05 us laBor
market outlook
1,000,000
06 maJor
announced
us JoB layoffs
aBout tHis
800,000 report
600,000
400,000
200,000
2005/Q1
2005/Q2
2005/Q3
2005/Q4
2006/Q1
2006/Q2
2006/Q3
2006/Q4
2007/Q1
2007/Q2
2007/Q3
2007/Q4
2008/Q1
2008/Q2
2008/Q3
2008/Q4
2009/Q1
2009/Q2
2009/Q3
2009/Q4
2010/Q1
2010/Q2
2010/Q3
2010/Q4
2011/Q1
2011/Q2
Source: US Bureau of Labor Statistics
tHe august data sHowed Just 57,000 JoB gains However
tHe JoBs Bill proposal Has at least ensured tHe issue
Has a renewed urgency in us political discourse.

6. 1000000
Home
contents
500000
6 | employment restructuring report | united states edition Q3 2011
summary
0 01 us laBor
market trends
March 2008 2008September 2008 FebruaryApril 2009July 20092009 2009 FebruaryApril 2010July 201020102010 FebruaryApril 2011 2011
April 2008July 20082008 2008 2008 2009 June August November 2009 2010 2010 2010
MayJune August November 2008 2009 2009 2009September 2009 2009 2010 June August November 2010 2011 2011 2011
2008 October JanuaryMarch May
December 2009 October JanuaryMarch May
December 2010 October 2010 2010 2011 June
SeptemberDecember March May
January
02 us regional
laBor trends
03 most Heavily
impacted sectors
04 reasons
for announced
us JoB openings (marcH 2008 to June 2011) JoB losses
05 us laBor
market outlook
4,000,000 06 maJor
announced
us JoB layoffs
3,500,000
…a JoBless rate aBout tHis
report
approacHing
3,000,000
10 percent
approacHing tHe 2,500,000
2012 presidential
election campaign
2,000,000
would Be political
1,500,000
poison.
1,000,000
500,000
0
March 2008
April 2008
May 2008
June 2008
July 2008
August 2008
September 2008
October 2008
November 2008
December 2008
January 2009
February 2009
March 2009
April 2009
May 2009
June 2009
July 2009
August 2009
September 2009
October 2009
November 2009
December 2009
January 2010
February 2010
March 2010
April 2010
May 2010
June 2010
July 2010
August 2010
September 2010
October 2010
November 2010
December 2010
January 2011
February 2011
March 2011
April 2011
May 2011
June 2011
Source: US Bureau of Labor Statistics

7. Home
7 | employment restructuring report | united states edition Q3 2011 contents
summary
01 us laBor
market trends
02 us regional
laBor trends
02
03 most Heavily
➔ All of the four major US has also seen the greatest Pennsylvania, New York and impacted sectors
census regions experienced an improvement over the course Ohio. Eighty per cent of those 04 reasons
for announced
increase in layoffs during the of the past year. There has who were affected by layoffs JoB losses
second quarter. As in earlier been an improvement in were in metropolitan areas. 05 us laBor
market outlook
periods, the West suffered layoffs in the Midwest, while
us regional the largest number of layoffs numbers have deteriorated in The worst affected area for
06 maJor
announced
us JoB layoffs
laBor – 132,114, followed by South
(131,322), Midwest (103,956),
the Northeast and South. displaced workers was in the
Los Angeles-Long Beach-
aBout tHis
report
trends and Northeast (102,368). During the quarter, the state Santa Ana area of California.
of California suffered
While the West has the the greatest number of
largest share of layoffs, it layoffs, followed by Illinois,

8. 50000 Home
8 | employment restructuring report | united states edition Q3 2011 contents
summary
0
Northeast South Midwest West 01 us laBor
market trends
02 us regional
laBor trends
03 most Heavily
impacted sectors
04 reasons
for announced
announced JoB layoffs By us region (Q1 2009 to Q2 2011) JoB losses
05 us laBor
market outlook
300,000 06 maJor
announced
us JoB layoffs
250,000 aBout tHis
report
200,000
150,000
100,000
50,000
0
Northeast South Midwest West
Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011
Source: US Bureau of Labor Statistics
tHere Has Been an improvement in layoffs in tHe midwest,
wHile numBers Have deteriorated in tHe nortHeast and soutH.

9. Home
9 | employment restructuring report | united states edition Q3 2011 contents
summary
01 us laBor
market trends
02 us regional
laBor trends
03
03 most Heavily
➔ The largest number of During the second quarter, extensive separations across some type of recall of those impacted sectors
layoffs in the second quarter 65 percent of employers the country. laid off – the highest since 04 reasons
for announced
of 2011 occurred in the anticipated recalling some of 2005. JoB losses
these workers. Transport and warehousing 05 us laBor
manufacturing sector with market outlook
has seen layoffs gradually Meanwhile job openings
most 95,289 positions disappearing,
however the sector’s overall
The administrative and waste increase over the past year, at the end of the second
06 maJor
announced
us JoB layoffs
Heavily performance improved
services sector had the
second largest share of total
reaching 49,421 in the latest
period.
quarter had improved
in professional business
aBout tHis
report
considerably. Layoffs in
impacted manufacturing were 20,000
layoffs in the period, behind
One bright spot is that the
services; trade, transportation
manufacturing, with some & utilities; leisure &
sectors less than in the previous month
56,000 workers displaced. situation for many displaced hospitality, and government.
and almost 40,000 fewer than
workers may not be as grim Openings deteriorated in
in the final months of 2010. There was a significant rise as the bare figures suggest education & health services,
in layoffs in the healthcare and construction, while
– some 61 percent of private
Within the manufacturing and social services sector,
sector employers indicated manufacturing was stable.
sector, the largest increase in with losses jumping by some
layoffs occurred in the food 22,000 to 29,431
and transport equipment sub
sectors. The government sector also
fared badly in the wake of
The construction sector also widespread budget tightening,
saw a substantial decline in with three successive quarters
layoffs – down approximately of declines being punctured
10,000 in the quarter to some by a 32,000 rise, taking total
29,000, and also well down public sector layoffs to 50,000
on the recent peak of 70,000 in the quarter. Teachers have
in the final quarter of 2010. suffered especially badly, with

10. Home
10 | employment restructuring report | united states edition Q3 2011 contents
50000
summary
01 us laBor
market trends
02 us regional
0 laBor trends
Manufacturing and Transportation and warehousing services social assistance
Administrative waste services
Government
Accommodation andRetail trade
Healthcare and
food Construction
Professional and technical servicesrecreation Wholesale trade
Information entertainment andand insurance services
Arts, Finance Educational 03 most Heavily
impacted sectors
04 reasons
for announced
announced us JoB layoffs By industry sector – non-farm (Q2 2010 to Q2 2011) JoB losses
05 us laBor
market outlook
200,000
06 maJor
tHe construction Q2 2010 announced
sector also saw us JoB layoffs
Q3 2010
aBout tHis
a suBstantial report
150,000 Q4 2010
decline in
Q1 2011
layoffs – down
approximately
Q2 2011
10,000 in tHe 100,000
Quarter to some
29,000, and also
well down on tHe
50,000
recent peak of
70,000 in tHe final
Quarter of 2010.
0
Manufacturing
Administrative and
waste services
Government
Transportation and
warehousing
Accommodation and
food services
Retail trade
Healthcare and
social assistance
Construction
Information
Professional and
technical services
Arts, entertainment
and recreation
Finance and insurance
Educational services
Wholesale trade
Source: US Bureau of Labor Statistics

11. Professional Business Services
Education and Health Services
Trade, Transportation and Utilities Hospitality Government
Leisure and Manufacturing Construction
Home
11 | employment restructuring report | united states edition Q3 2011 contents
summary
01 us laBor
market trends
02 us regional
laBor trends
03 most Heavily
impacted sectors
04 reasons
for announced
us JoB opening By industry sector (april 2011 to June 2011) JoB losses
05 us laBor
market outlook
700,000
06 maJor
announced
us JoB layoffs
600,000
aBout tHis
report
500,000
JoB openings at
tHe end of tHe 400,000
second Quarter
Had improved 300,000
in professional
Business 200,000
services; trade,
transportation &
100,000
utilities; leisure &
0
Hospitality, and
Business Services
Health Services
and Utilities
Hospitality
Government
Manufacturing
Construction
Professional
Education and
Trade, Transportation
Leisure and
government.
April 2011 May 2011 June 2011
Source: US Bureau of Labor Statistics

12. Home
12 | employment restructuring report | united states edition Q1 2011 contents
summary
01 us laBor
market trends
02 us regional
laBor trends
04
03 most Heavily
➔ The US economy might One explanation may be that were unequivocal during the 13,000 layoffs in the latest impacted sectors
be slowing somewhat but the some businesses have yet economic recession, and this quarter, while seasonal 04 reasons
for announced
cyclical decline is yet to show to interpret the economic factor has dropped steadily factors were responsible for JoB losses
more than eight times that. 05 us laBor
up in the reasons cited by slowdown as a cyclical over the past two years. market outlook
employers for layoffs during phenomenon, preferring to Organizational changes
reasons for the quarter. view it as a seasonal influence. Business demand was accounted for less than 6,000
06 maJor
announced
us JoB layoffs
announced Rather, the major reason
It’s often not until the official responsible for approximately
67,000 separations in the
displaced workers. aBout tHis
report
data confirms a slowdown
JoB losses that businesses have given
that enterprises are able to latest quarter, down from
to explain the cutbacks is a peak of 450,000 two
differentiate the reasons for a
“seasonal impacts”. In fact years ago.
change in the level of activity.
“business demand” is at a
series low, as is a related factor What is clear is that firms Financial issues were
“financial issues”. blaming business demand responsible for approximately
Business demand:
Contract cancellation, contract completion, domestic completion, excess inventory/saturated
market, import completion or insufficient demand
organizational cHanges:
Business restructure or change of ownership
financial issues:
Bankruptcy, falling profits or financial difficulty

13. Q
50000 Home
13 | employment restructuring report | united states edition Q3 2011 contents Q
0 summary
Q
Seasonal impacts Business demand Financial issues Organizational changes 01 us laBor
market trends
02 us regional
laBor trends
03 most Heavily
Q
impacted sectors
04 reasons
for announced
main reasons for JoB layoffs in tHe us (Q2 2009 to Q2 2011) JoB losses
05 us laBor
market outlook
350,000
Q2 2009
06 maJor
announced Q
Q3 2009 us JoB layoffs
300,000
Q4 2009
aBout tHis
report
Q
250,000 Q1 2010
Q2 2010
Q
200,000
Q3 2010 Q
150,000 Q4 2010
Q1 2011 Q
100,000 Q2 2011
Q
50,000
Q
0
Seasonal impacts Business demand Financial issues Organizational changes
Q
Source: US Bureau of Labor Statistics
Q
Business demand was responsiBle for approximately 67,000
separations in tHe latest Quarter, down from a peak of
450,000 two years ago.