US Unemployment Rate Touches 6.7%; Half–Million Jobs Lost in November; EmploymentCrossing Revs Up Efforts (2008-12-08)
Employers slashed 533,000 jobs in November, the most in 34 years, according to the latest US Bureau of Labor Statistics report. Mind-boggling figures of job losses reported for the month are statistically the most since December 1974. The unemployment rate of 6.7% was the worst rate since 1993. It's only the fourth time in the past 58 years that payrolls have fallen by more than 500,000 in a month. EmploymentCrossing, the leading job board in the US, agrees that the current job market has been increasingly ruthless on the employees, as widespread cuts attain a new high.
