The last 2 backmonths were revised up by 200k more job losses - in the last 3 months half the amount of jobs were lost Obama wants to create in 2 years - dream on - just the fact that the car industry rescue is a prolonged process will drive away potential buyers and destroy more jobs. Saving the car industry comes to the same effect as Lehman - if not done right away the results will be even more disastrous. Why does GE get money thrown after them ( they have a lot of toxic stuff in their balance sheets) and about the car industry they make such a big fuss. Pauloson should be fired today and actuaşşy repalacing him by Geithener is like repalacing one cancer by another but he will have to act at least as Paulson does not give a rats a.. .
U.S. Payrolls Decline by 533,000, Most Since 1974 (Update2) By Bob Willis
Dec. 5 (Bloomberg) -- U.S. companies slashed payrolls at the fastest pace in 34 years as the economy headed for its deepest and longest recession since World War II.
Employers cut 533,000 jobs last month, bringing losses so far this year to 1.91 million, the Labor Department said today in Washington. November’s drop exceeded all 73 forecasts in a Bloomberg News survey. The unemployment rate rose to 6.7 percent, the highest level since 1993.
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