Your donation today gets you two things to keep you going – your daily news fix and your new favorite mug.
Terrible job report
This is much worse than expected. Employers cut 533,000 jobs in November. That’s the most in 34 years. The unemployment rate is to 6.7%, a 15 year high. And here’s the figure to really focus on: The broadest measure of unemployment–the total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons–as a percent of the civilian is at an astounding 12.5%.
The job losses were widespread. The few brightspots–which has been true throughout the recession–is government, education and health services.
Some quick implications: The opposition to a bailout of Detroit will weaken.
The size of the fiscal stimulus plan when the new Administration comes to power has gone up.
President-elect Obama is having his first hundred days before he is sworn in. By the time late January rolls around the plan will be in place.
As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.
Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.
Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.
New mug alert!
Support Marketplace & get our new mug as
a thank-you gift.