Job losses worst in 34 yrs

(01:46) Report

Dec. 5 - American employers slashed the most jobs since December 1974 as a recession firmly grips the U.S. economy.

The politically-sensitive unemployment rate jumped to 6.7 percent, the highest reading since 1993.

Conway Gittens reports from New York.

SOUNDBITES:

  • Matt Luttinger, accountant, New York City
  • Brian Bethune, chief U.S. financial economist, IHS Global Insight.

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