The US lost 533,000 jobs in November for the worst monthly decline in 34 years. More than 1.25 million jobs vanished in just the last three months.
The unexpectedly high job losses, coupled with the threat of an auto industry collapse and escalating home foreclosures, point toward a much deeper recession than many economists had anticipated. (Full)
Meanwhile, the Bush administration seems to be rushing through any legislation favouring the "big business", they expect Obama would oppose. Like allowing coal companies to dump rock and dirt from mountaintop mining operations into nearby streams and valleys. (More)
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