Economy Loses 533,000 Jobs in November

The U.S. economy lost 533,000 jobs in November, the worst single month since late 1974, and the result was even worse than most analysts had expected.

On average, forecasts had called for a decline of around 335,000, according to Bloomberg survey. The unemployment rate rose to 6.7% from 6.5% in October, a 15-year high.

Job losses were widespread, hitting factories, construction compaines, financial firms, retailers, leisure and hospitality, and others industries. The few places where gains were logged included the government, education and health services. ...