Friday, December 5, 2008

533,000 jobs lost in November

Wow, did you see this headline on Yahoo today? Employers cut 533K jobs in Nov., most in 34 years. Apparently those numbers put the national unemployment rate at 6.7 percent. That is a lot. This next line really struck me from the article.

The unemployment rate would have moved even higher if not for the exodus of 422,000 people from the work force. Economists thought many of those people probably abandoned their job searches out of sheer frustration.

Click on the link above to read the article.

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