The government says employers axed 533,000 jobs in November, the most in 34 years, and the unemployment rate rose to 6.7 percent. It was dramatic proof the country is careening ever deeper into recession. The Labor Department's report shows the crucial employment market deteriorating at an alarmingly rapid clip, and handed Americans some more grim news right before the holidays (Remember: this is WITH U.S. automakers currently at some positive level of employment)



posted by Peter Greene