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Showing posts with the label Recession 2008

12/5/08-TWD's Agenda For FriDay: Record Jobs Loss Numbers

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Photo from themoneytimes.com Starling and scary , for those who may read this. Nonfarm payroll employment fell sharply (-533,000) in November, and the unemployment rate rose from 6.5 to 6.7 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. November's drop in payroll employment followed declines of 403,000 in September and 320,000 in October, as revised. Job losses were large and widespread across the major industry sectors in November. Brutal. Absolutely brutal. But there is hope, and that hope comes from our future new president : "The 533,000 jobs lost last month, the worst job loss in 34 years, is more than a dramatic reflection of the growing economic crisis we face. Each of those lost jobs represents a personal crisis for a family somewhere in America. Our economy has already lost nearly 2 million jobs during this recession, which is why we need an Economic Recovery Plan that will save or create at least 2.5 million more jobs ov...