Employers cut 533K jobs in Nov., most in 34 years - WKOW 27: Madison, WI Breaking News, Weather and Sports

Employers cut 533K jobs in Nov., most in 34 years

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WASHINGTON (AP) --The government says employers axed 533,000 jobs in November, the most in 34 years, and the unemployment rate rose to 6.7 percent.

  It was dramatic proof the country is careening ever deeper into recession.

  The Labor Department's report shows the crucial employment market deteriorating at an alarmingly rapid clip, and handed Americans some more grim news right before the holidays.

  The jobless rate rose from 6.5 percent in October to 6.7 percent, a 15-year high.

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