Clearly, bad news on the employment front…

Payroll employment down 524,000 over the month of December….

11.1 million people are unemployed, and the unemployment rate is at 7.2%….

In the last four months of the year the job losses accelerated….

The broadest measure of unemployment kept by the government–total unemployed, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers–hit 13.5%… up from 12.6% the previous month and 8.7% a year ago….

Education and health services did hold up, so did government….