Job Losses the Worst in 34 Years

To me, it's the single scariest development of many lately: November saw the biggest monthly job loss in 34 years, extrapolating from statistics released today by the Department of Labor.

More than 500,000 jobs, net, were lost in November, a sign of deepening recession, commentators say. And that's not counting those who have been unemployed so long they are no longer counted in the statistics of those seeking work.

The unemployment rate now stands at 6.7 percent, a 15-year high.