The number of mass layoffs reported by U.S. employers fell in October from the previous month, a government report showed Friday, suggesting job losses may be ending soon. The Labor Department said the 2,127 mass layoffs reported last month-defined as job cuts involving at least 50 people from a single employers-was down 434 from September. The layoffs affected more than 217,000 workers, down from 248,000 the previous month. Nearly half the mass layoffs were in the manufacturing sector. Despite October"s decline, the number of mass layoffs so far this year hit a record near 26,000. The labor market has been showing gradual signs of stabilizing after a spike in job losses early this year. The market is being watched for clues on the strength and sustainability of the economic recovery that began in the third quarter. The U.S. unemployment rate rose to a 26-year high of 10.2 percent in October. Since the recession officially started in December 2007, more than 49,000 mass layoffs have been reported.
