Nonfarm Payrolls Plunged 533k; More Losses to Come
December 05, 2008 at 09:41 AM EST
Non-farm payrolls dropped 533k last month with the unemployment rate soaring to 6.7%, the highest level since 1993. September and October job losses were also revised to worse numbers. There is no capitulation bottom when it comes to the labor market which means that negative non-farm payrolls will continue. This number spells big trouble for [...]