The Labor Department of the Govt of USA has reported that 5,33,000 people lost their jobs in November. Another 6,21,000 were forced into part-time employment. 4,22,000 simply dropped out of the labor force. 24,000 were laid off by auto dealers. The situation seems to be far worse than economists expected.
Source: Paul Ford, Harper's Weekly, December 9, 2008.
Grateful thanks to Paul Ford and Harper's Weekly.
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