Friday, December 5, 2008

SFGate: Worst month for job loss in 34 years

Worst month for job loss in 34 years
Employers cut 533,000 jobs in November, the biggest monthly drop in
U.S. payrolls since 1974, clobbering every occupation except health
care [....]
In a dismal report issued Friday the Labor Department also said the
unemployment rate rose to 6.7 percent. That was up from 6.5 percent in
October. Last November the unemployment rate was 4.7 percent. [....]
Friday's report comes 11 months into a recession that started last
December, and marks it as the sharpest downturn since the contractions
of the early 197os and 1980s
Comments are at the bottom of this page; above the comments is a box
for adding yours (requires registration/login).

No comments: