With the unemployment rate reaching 6.7% in November, and job losses for the month reaching an unexpectedly high 533,000, it appears that the economy is deeping in its recession. Additionally, the BLS revised job loss numbers downward for the previous two months as well. In total, the U.S. economy has now shed more than 1.2 million jobs in the past 90 days. The blood-letting continues!
Here is an article with more details.
Here is an article with more details.
Surprisingly, however, stock index futures have not dropped precipitously! Just wait until the market opens! It will be an interesting day!
Read here the reactions to varoius economists to the news on the Wall Street Journal's website:
