Economy Sheds 533,000 Jobs, Most in 34 Years

5 replies

Dec 5, 2008, 08:51 AM

U.S. employers axed payrolls by a shocking 533,000 in November for the weakest performance in 34 years, government data on Friday showed, as the recession inflicted a mounting toll on the U.S. labor market.

Economy Sheds 533,000 Jobs, Most in 34 Years - Economy * US * News * Story - CNBC.com

Boy, those shoes still keep dropping. :omg:

Commercial property and the US Dollar are next.

jdang307subscriber

Dec 5, 2008, 01:39 PM

Holy Sh.................

JOjoeydolfansubscriber

Dec 5, 2008, 01:43 PM

"jdang307 wrote:
Holy Sh.................

Combine that with Foreclosures reaching a new high last month and things do not look good.

Coral ReeferNew Member

Dec 5, 2008, 02:11 PM

*sigh* Thanks for the holiday news Joey! :angry::lol:

There's been many saying we haven't yet seen the worst of this.
Predicting the bottom of this rut arguably isn't possible right now let alone a possible turnaround timetable.

RIP Jetssuck

DonShula84moderator

Dec 5, 2008, 03:17 PM

More than 420,000 men and women who had been working or seeking work in October left the labor force in November. Most presumably gave up looking for a job, the bureau's report suggests. If they had continued that search, the unemployment rate in November would have been closer to 7 percent.

The numbers would be worse...if not for people losing hope...:pity:

http://www.nytimes.com/2008/12/06/business/economy/06jobs.html?_r=1

FinSaneforum_veteran

Dec 5, 2008, 03:39 PM

"DonShula84 wrote:
The numbers would be worse...if not for people losing hope...:pity:
http://www.nytimes.com/2008/12/06/business/economy/06jobs.html?_r=1

without a social safety net...