The U.S. Department of Labor announced at 8:30 a.m. today that another 533,000 jobs were lost in November; catapulting the unemployment rate to 6.7 percent--and bringing the grand total number of jobs lost this year to a whopping 1.7 million.
Further adding to these depressing stats: many of the jobs lost aren't coming back. According to the Bureau of Labor Statistics:
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.
These numbers register as the largest number of job reductions seen in 34 years, since a whopping 602,000 positions were slashed in December 1974, when the country was in a severe recession.
The loss of 533,000 payroll jobs was much deeper than the 320,000 figure that economists were forecasting. And just think: only a couple of months ago, Bush and John McCain were saying the fundamentals of this economy were strong.
President-elect Barack Obama has called for a massive economic recovery bill to generate 2.5 million jobs over his first two years in office, reiterating the nation's need for this urgent plan of action in a statement issued this morning:
"The 533,000 jobs lost last month, the worst job loss in 34 years, is more than a dramatic reflection of the growing economic crisis we face. Each of those lost jobs represents a personal crisis for a family somewhere in America. Our economy has already lost nearly 2 million jobs during this recession, which is why we need an Economic Recovery Plan that will save or create at least 2.5 million more jobs over two years while we act decisively to maintain the flows of credit on which so many American families and American businesses depend."There are no quick or easy fixes to this crisis, which has been many years in the making, and it's likely to get worse before it gets better. But now is the time to respond with urgent resolve to put people back to work and get our economy moving again. At the same time, this painful crisis also provides us with an opportunity to transform our economy to improve the lives of ordinary people by rebuilding roads and modernizing schools for our children, investing in clean energy solutions to break our dependence on imported oil, and making an early down payment on the long-term reforms that will grow and strengthen our economy for all Americans for years to come."
This November jobs report did include one slightly positive statistic for workers. From AP:
"Workers with jobs saw modest wage gains. Average hourly earnings rose to $18.30 in November, a 0.4 percent increase from the previous month. Over the year, wages have grown 3.7 percent."
This rise in unemployment means families will undoubtedly be facing holiday hard times. Here at SEIU, we are calling on Congress to support a new economic model that addresses the real concerns of America's working families. We must act now to jump-start job creation, fix our national healthcare system and rebuild our economy and the middle class.

