Employment Stats For November

  This is not a pretty picture, and I believe that December will not be so merry either.

  BLS

Nonfarm payroll employment fell sharply (-533,000) in November,

and the unemployment rate rose from 6.5 to 6.7 percent.

November's drop in payroll employment followed declines of

403,000 in September and 320,000 in October, as revised.

Both the number of unemployed persons (10.3 million) and the unemploy-ment rate (6.7 percent) continued to increase in November.

Since the start  of the recession in December 2007, as recently announced by the National Bureau of Economic Research, the number of unemployed persons increased by 2.7 million, and the unemployment rate rose by 1.7 percentage points. Among the unemployed, the number of persons who lost their job and did not
expect to be recalled to work increased by 298,000 to 4.7 million in November. 
Over the past 12 months, the size of this group has increased by 2.0 million.

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