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Friday, December 5, 2008

Employment Crumbles (November)

Nonfarm payroll employment fell sharply (-533,000) in November, andthe unemployment rate rose from 6.5 to 6.7 percent, the Bureau of LaborStatistics of the U.S. Department of Labor reported today. November'sdrop in payroll employment followed declines of 403,000 in September and320,000 in October, as revised. Job losses were large and widespreadacross the major industry sectors in November.

Source: BLS