On Friday, the Labor Department reported that a total of 1.9 million jobs have been lost since the recession began 11 months ago. This is remarkably only the 4^th time in 58 years that payrolls have fallen by more than 500,000 in a month.

Additionally, 621,000 workers have been forced into part-time work, 553, 000 people have been laid off and 422,000 simply left the labor force altogether.

In the past three months 1.2 million jobs have been lost at a rate that was exceeded only once in 1945. Chief U.S economist for High Frequency Economics, Ian Shepherdson commented that the speed at which employees are losing jobs is truly alarming.

The unemployment rate has risen to 6.7 percent in November from 6.5 percent in October, which is the highest recorded jobless rate since October of 1993.

While government added 7,000 positions, and health and education added 52,000 jobs; hospitality and leisure industries cut 76,000 jobs. Construction lost 82,000 positions, while manufacturing lost 85,000 workers.

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