05 December, 2008

Republican economics

Employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession, and that doesn't include those who are off the unemployment rolls.

The carnage — including the worst financial crisis since the 1930s —is hitting a wide range of companies.

The U.S. tipped into recession last December 2007, a panel of experts declared earlier this week. Since the start of the recession, the economy has lost 1.9 million jobs.

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