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Over 500,000 Jobs Lost in November 2008 – Highest Unemployment Rate in 15 Years


Jobs are one of the major indicators of declining market.  In November 2008, payrolls took a deep dive as 533,000 jobs were cut.  Now that our unemployment is at 6.7% we are at all 15 year high.  According to Market Watch,

“It was only the fourth time in the past 58 years that payrolls had fallen by more than 500,000 in a month. Since the recession began 11 months ago, a total of 1.9 million jobs have been lost. Job losses in September and October were revised much lower.

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