Profile
Photos
Comments
Unemployment Rate Rises to 6.7%
New figures from the Labor Department show a much sharper
worsening of employment conditions than economists expected.
Some 533,000 nonfarm jobs were eliminated in November, the
most in one month since the mid-1970s, and figures for the
prior two months were revised upward by 199,000. The
unemployment rate rose two-tenths of a point to 6.7 percent
in November; it would have been even higher if large numbers
of discouraged workers had not given up looking for work.
(From NYT - figures released this morning at 9:00 a.m. EST)
