US Unemployment Rise Worse Than Forecast

09 December 2008

WASHINGTON, DC: America's rate of unemployment rose from 6.5% to 6.7% in November, following some 533,000 job losses during that  month, according to figures from the country's Bureau of Labor Statistics.

News and data provider Bloomberg reported that most analysts had expected around 333,000 job losses during the month, but the actual total was the highest on record since December 1974. 

AT&T, Honda and Viacom recently announced substantial job cuts, although the healthcare, education and governmental sectors all posted increases in employment numbers last month.

Data sourced from Business Week (online); additional content by WARC staff