US jobs misery
Dec 5 2008 By Andrew Mernin
US president-elect Barack Obama said the US economy would get worse before it gets better today as new figures showed the nation suffered its worst month of job losses in 34 years in November.
US president-elect Barack Obama said the US economy would get worse before it gets better today as new figures showed the nation suffered its worst month of job losses in 34 years in November.
Employers slashed 533,000 jobs in November, catapulting the unemployment rate to 6.7%, figures by the US Labour Department showed.
Employers slashed 533,000 jobs in November, catapulting the unemployment rate to 6.7%, figures by the US Labour Department showed.
Mr Obama said the ``painful crisis" was an ``opportunity to transform our economy to improve the lives of ordinary people".
Mr Obama said the ``painful crisis" was an ``opportunity to transform our economy to improve the lives of ordinary people".
He said the figures were ``a dramatic reflection of the growing economic crisis we face" and further evidence that his economic recovery plan, which plans to save or create 2.5m jobs over two years, was needed.
He said the figures were ``a dramatic reflection of the growing economic crisis we face" and further evidence that his economic recovery plan, which plans to save or create 2.5m jobs over two years, was needed.
In his statement, Mr Obama, who takes over from unpopular incumbent President George Bush at noon on January 20, said: ``There are no quick or easy fixes to this crisis, which has been many years in the making, and it’s likely to get worse before it gets better.
In his statement, Mr Obama, who takes over from unpopular incumbent President George Bush at noon on January 20, said: ``There are no quick or easy fixes to this crisis, which has been many years in the making, and it’s likely to get worse before it gets better.
``But now is the time to respond with urgent resolve to put people back to work and get our economy moving again."
``But now is the time to respond with urgent resolve to put people back to work and get our economy moving again."
