Private Businesses Shed 250,000 Jobs in November

By Neil Irwin and Howard Schneider
Washington Post Staff Writers
Wednesday, December 3, 2008; 2:47 PM

Business conditions weakened across the United States and in almost every industry in recent weeks, according to a Federal Reserve report released today. And a pair of other reports indicated that private employers shed jobs at an accelerating rate and the nation's service sector contracted sharply in November.

Together, the reports are strong evidence that the recession is deepening as winter approaches. Stocks were up moderately in early afternoon trading, with the Dow Jones industrial average up less than one percent, or 39 points.

The Fed's "beige book," a compilation of anecdotal reports from businesses across the nation published roughly every six weeks, found that "overall economic activity weakened across all Federal Reserve districts since the last report."

[link to www.washingtonpost.com]


not only the US is suffering from this but all over europe as well.

The big 3 asking for bailouts and still laying off people, they are milking the people before the crash.